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Quotes of the Day

A bird in the hand is worth two in the bush.

A stitch in time saves nine.

All is well that ends well.

Anything that we can do to raise personal savings is very much in the interest of this country.

We need to give people more of an incentive to work, to save, to invest, to create a true future for themselves.

If you have not saved a penny for retirement and feel guilty about it, you can begin saving today.
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Friday, March 6, 2009

WHAT IS EMPLOYEES PROVIDENT FUND ?

Employees Provident Fund is a compulsory savings scheme in Malaysia. Its primary aim is to provide a measure of security for old age retirement to its members. It also provides supplementary benefits to members to utilize part of their savings for house ownership and other withdrawal schemes.

EPF is the abbreviation for Employees Provident Fund. Employees Provident Fund is commonly known in the Malay term as KWSP or Kumpulan Wang Simpanan Pekerja.

Employees Provident Fund Act 1991 is the act governing the Employees Provident Fund in Malaysia.
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