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Yes, our EPF dividend continues until we are 100 years old.

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get to know about your EPF dividend.

Malaysia’s life expectancy is 76.22 years. Well, considering we work till 60 typically, that means we should have enough savings / assets which we could sell OR a lot of EPF savings which could last us 16 years. Speaking about EPF savings, there was this viral piece of news saying that EPF will only pay dividends to its members until a maximum age of 75. That’s apparently not true currently and in fact is an outdated news and thus is no longer applicable.

EPF explained that as per the amendment to the EPF Act 1991 and announced effective Jan 1, 2017, EPF members would continue to receive dividends for the portion of savings they left inside the fund. This is until the member reaches 100 years old. This is applicable as long as members continue to have their savings in EPF.

Article in themalaysianreserve.com. The EPF said in a statement, “We urge members to be cautious of misleading or unsubstantiated information received through social media platforms and refrain from circulating them. Members are advised to always verify the source and date of the information obtained.”

The EPF said members would be informed prior to transferring any unclaimed savings when the member reaches 100 years old. Any claim after the transfer could be made through the Registrar of Unclaimed Monies. Please do read the full article here: Article in themalaysianreserve.com

How low could EPF dividends be?

In case anyone is wondering what it the minimum dividend which EPF must give to members, it is 2.5% and this is guaranteed by law. Earlier article for reference here: Did you know that EPF has a guaranteed dividend rate?

If we look at this guaranteed 2.5% and assuming FD rate does not change, then even at this minimum guarantee, EPF is still giving a guaranteed dividend which is 25% higher than the current FD rate which is around 2%. The image below shows typical FD rates in Malaysia currently.

Please stay healthy if you still have money in the EPF

It’s time to stay very healthy to enjoy more EPF dividends. I mean that’s the only way we maximise the returns we could get from our EPF savings. In fact the healthier we are, the lesser money we would be spending on hospital bills too. As for the viral news, you can now delete it if you see it. Thank you.

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Next suggested article: Stay healthy. We need to work longer. Way past retirement.

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