KUALA LUMPUR: THE Employees Provident Fund (EPF) has announced an array of improvements and enhancements in its schemes to bring the fund up to speed with current trends and legislation at home and abroad. For those who continue working after the age of 55, their EPF contributions will automatically go to Akaun Emas. Units trusts are now allowed to introduce funds with higher percentage of foreign equity to provide EPF members a wider range of products. These initiatives are to protect EPF members further in light of the issues that they face upon retirement age. There has been concern among policymakers as a majority of EPF contributors will likely exhaust their EPF savings within five years upon retirement.

Source: New Strait Times November 04, 2016 01:21 UTC