Stay updated with breaking news from Epf. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The industry has welcomed the Department for Work and Pensions’ (DWP) focus on enabling defined benefit (DB) surplus extraction and a public sector consolidator following its consultation.
The average new additions in the third quarter of the fiscal were still lower than in the first half of the year, given the easing of economic activity. Experts estimate that growth likely eased below 7% in Q3FY24, compared with 7.7% average for the first half of the year.
Civil service pension reform is urgent. Pension costs have ballooned from RM6.8bil in 2005 to RM32.4bil this year and could rise to RM46bil by 2030 and RM120bil by 2040.
PETALING JAYA: With the Employees Provident Fund (EPF) recording a stronger performance in the first nine months of the 2023 financial year (FY23), experts are anticipating a higher dividend declaration this year.
Out of the three PF claim categories – final settlement, transfer and withdrawal – the rejection rate has sharply increased for the final settlement of PF claims over the last five years.