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Pension from each establishment has to be worked out at the date of exit on actual basis. This means pension from all establishments will be aggregated provided that aggregate will not exceed the wage ceiling. And if it exceeds wage ceiling, the excess salary will be diverted to the PF account
The final part on unclaimed investments explores the role of technology, fees, and recovery advisory platforms. It also highlights the importance of making nominees aware of investments and maintaining comprehensive records.
SIBU: The Federal Government's proposal to abolish the civil service pension system and replace it with the Employees Provident Fund (EPF) should be viewed from a more rational and long-term perspective, says Datuk Seri Tiong King Sing.
PETALING JAYA: Even a small voluntary contribution into the Employees Provident Fund (EPF) can snowball over time and workers in the informal sectors should not miss out, say financial experts.
The Employees Provident Fund (EPF) is positioned for favourable returns this year as improving global market sentiment gains momentum and with the resolution of political uncertainties locally.