What is my basic saving amount?
Effective 1 January 2017, members can invest not more than 30% of their credit in excess of Basic Savings in Account 1 in the Fund.
The minimum amount of savings that can be withdrawn is RM1,000 and can be made at intervals of three months from the date of the last transfer, subject to the availability of the Basic Savings required in Account 1 below.
Required Basic Savings In Account 1
|
Age |
Basic Savings |
Age |
Basic Saving |
|
18 |
1,000 |
37 |
34,000 |
|
19 |
2,000 |
38 |
37,000 |
|
20 |
3,000 |
39 |
41,000 |
|
21 |
4,000 |
40 |
44,000 |
|
22 |
5,000 |
41 |
48,000 |
|
23 |
7,000 |
42 |
51,000 |
|
24 |
8,000 |
43 |
55,000 |
|
25 |
9,000 |
44 |
59,000 |
|
26 |
11,000 |
45 |
64,000 |
|
27 |
12,000 |
46 |
68,000 |
|
28 |
14,000 |
47 |
73,000 |
|
29 |
16,000 |
48 |
78,000 |
|
30 |
18,000 |
49 |
84,000 |
|
31 |
20,000 |
50 |
90,000 |
|
32 |
22,000 |
51 |
96,000 |
|
33 |
24,000 |
52 |
102,000 |
|
34 |
26,000 |
53 |
109,000 |
|
35 |
29,000 |
54 |
116,000 |
|
36 |
32,000 |
55 |
120,000 |
Examples To Compute The Allowable Investment Amount
|
Member |
Age |
Savings
In Account 1 |
Basic Savings (RM) |
Computation: Savings In Account 1 - Basic savings x 30% |
Member's Eligibility |
|
A |
21 |
3,000 |
4,000 |
NA |
Not qualified as the savings is lesser than the basic savings required. |
|
B |
22 |
7000 |
5,000 |
(7,000-5,000) x 30% = RM600 |
Not qualified as the savings is lesser than required minimum investment amount of RM 1,000. |
|
C |
25 |
21,000 |
9,000 |
(21,000-9,000) x 30% = RM3,600 |
Qualified as the savings is more than the basic savings and minimum limit. |
|
D |
38 |
36,000 |
37,000 |
NA |
Not qualified as the savings is lesser than the basic savings required. |
|
E |
47 |
100,000 |
73,000 |
(100,000-73,000) x 30% = RM8,100 |
Qualified as the savings is more than the basic savings and minimum limit. |
Please contact EPF customer management center 03-87326000 for more information on member's investment scheme.