KUALA LUMPUR, Dec 14 (Bernama) -- The Employees Provident Fund (EPF) today announces four enhancements to its schemes and policies which will take effect next January, as part of EPF's continuing effort to improve and meet members' increasing expectations.
Its chief executive officer Datuk Shahril Ridza Ridzuan said the key initiatives includes option to appoint Amanah Raya Berhad (ARB) as nominee or administrator trustee, enhancement to ?Age 55 and 60' policies withdrawal payment options, flexible withdrawal policy until age 100 and extension of Death Benefit from age 55 to 60.
He said the option to appoint Amanah Raya for members' EPF saving would facilitate faster and equitable distribution of their savings to next-of-kin, upon members' demise.
"This would be especially beneficial for members with children below 18 years old and to avoid dispute among family members... this new option is in addition to members existing right to appoint any individual persons as nominees," he told reporters at a media briefing, here today.
Shahril Ridza said for the ?Age 55 and Age 60' withdrawal policies, it has now enhanced and simplified to enable members make partial withdrawals of any amount at any time.....
Source : http://www.bernama.com/bernama/v8/ge/newsgeneral.php?id=1419499