KUALA LUMPUR: All voluntary contributions under the 1Malaysia Retirement Savings Scheme in the Employees Provident Fund (EPF) will be limited to RM60,000 annually from Jan 1.
EPF Public Relations general manager Nik Affendi Jaafar yesterday said those who could contribute under the category were freelance workers, artistes, multi-level marketing agents, insurance agents, traders, taxi drivers and housewives.
He said the contribution of RM60,000 a year and the compounded dividends in the long term were adequate to provide a basic guarantee for retirement funds for members.
“As a retirement savings fund, the objective of the EPF is to provide a basic financial guarantee for the retirement of members,” he said in a statement.
Nik Affendi said the contribution was introduced as an initiative to ensure those self-employed and had no fixed monthly income had a savings plan for retirement.
Voluntary contributors could contribute as low as RM50 a month up to RM60,000 a year which could be paid in cash or cheque using the EPF form 6A (1) for the 1Malaysia Retirement Savings Scheme which could be obtained at the nearest EPF branch or downloaded from the web page myEPF at www.kwsp.gov.my.
Further information could be obtained at the nearest EPF branch or by calling the EPF call centre at 03-89226000. — Bernama