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EPF Revised Quantum Basic Savings for Account 1 & Cut-Off Date for EPF Submission November 23, 2018
Author : FSM


EPF Revised Quantum Basic Savings for Account 1 & Cut-Off Date for EPF Submission

1. EPF Revised quantum basic savings for account 1

Employees Provident Fund (EPF) has made an upward revision to the Basic Savings schedule which will take effect from 1 January 2019 onwards. Members will have to achieve a higher minimum basic savings of at least RM240,000.00 (currently RM228,000.00) in their Account 1 when they reach age 55 years.

Please find the revised Basic Savings schedule:

Table 1: Basic Savings Schedule
Age ( Year)
Basic Savings (RM) - Current
Revised Basic Savings (RM)
Effective 1 Jan 2019)
18 1,000 2,000
19 3,000 4,000
20 5,000 6,000
21 6,000 8,000
22 8,000 10,000
23 10,000 13,000
24 12,000 15,000
25 14,000 18,000
26 17,000 21,000
27 20,000 24,000
28 23,000 27,000
29 26,000 31,000
30 29,000 35,000
31 33,000 39,000
32 37,000 43,000
33 41,000 47,000
34 45,000 52,000
35 50,000 57,000
36 55,000 62,000
37 60,000 68,000
38 66,000 74,000
39 72,000 80,000
40 78,000 86,000
41 85,000 93,000
42 92,000 101,000
43 100,000 108,000
44 108,000 116,000
45 116,000 125,000
46 125,000 134,000
47 134,000 144,000
48 144,000 154,000
49 154,000 164,000
50 165,000 175,000
51 176,000 187,000
52 188,000 199,000
53 201,000 212,000
54 214,000 226,000
55 228,000 240,000

 

2. cut-off date for epf submission

To facilitate the implementation of the new Basic Savings schedule into the e-PPA system and ensure timely disbursement from EPF for December submission, all EPF submissions (original and physical EPF forms as well as relevant documents) must reach Fundsupermart.com latest by 10 December 2018, 3pm.

Withdrawal submissions received after 10 December 2018, 3pm will be processed on 2 January 2019 and will be based on the new Basic Savings schedule.


 

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