Malaysia is one of Asia's biggest employers of foreign labour. But recently, cases of deaths, abuse and forced labour have come to light. What is going on? Who is protecting these migrant workers?
Employees Provident Fund is a social security institution formed to provide retirement benefits for members who are workers in the country. Their savings are managed in an efficient and reliable manner.
As of September 2017 there are a total of 13.72 million members from Private and Non—Pensionable Public Sector Employees, out of this, 7.05 million are active and contributing members.
Workers savings are invested in a number of approved financial instruments to generate income. The EPF ensures that your savings are secure and receive reasonable dividends and guarantees a minimum of 2.5% dividend annually.
For 2017 the conventional savings dividend was 6.90% and the Shariah savings dividend was 6.4%.
As contributors for our retirement fund it is our right to know how our retirement fund is being operated to ensure that we have sufficient funds when we retire.
Therefore we are happy that EPF has agreed to our request to brief us this Wednesday, 7th March 2018 for our understanding of the process and will be able to update our members in our respective Union accordingly.
Address: Wisma MTUC,10-5, Jalan USJ 9/5T, 47620 Subang Jaya,Selangor | Tel: 03-80242953 | Fax: 03-80243225 | Email: sgmtuc@gmail.com.com