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| 1. |
What is EPF Investment of Members Saving Scheme? |
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In November
1996, the Employees Provident Fund (EPF) launched the EPF INVESTMENT OF MEMBERS SAVING
SCHEME. This Scheme offers EPF members who have balance exceeding RM55,000 in Account 1
(Retirement Account) and have not reach the age of 55 an alternative in investing their
EPF Savings. They are eligible to withdraw funds under this scheme and invest through
appointed Fund Management Institutions (FMI) as an alternative to EPF.
PCM is one of FMIs appointed by the Ministry of Finance to manage EPF
funds under this Scheme. |
2. |
How much can you withdraw? |
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You may withdraw up to a maximum
of 20% of the amount in excess of RM50,000 in Account 1 of your EPF Savings. |
3. |
How often can you withdraw funds from your EPF savings? |
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You may
withdraw funds every three months as long as the balance in Account 1 exceeds RM50,000.
For this purpose, the three months interval is calculated based on the warrant date given
by EPF.
EXAMPLE:
A. First Withdrawal
| |
CASE 1 |
CASE 2 |
| Balance
in Account 1 |
100,000 |
55,001 |
| Amount
exceeding RM50,000 in Account 1 (Y) |
50,000 |
5,001 |
| Minimum
amount that can be invested |
1,000 |
1,000 |
| Maximum
amount that can be invested (20%*Y) |
10,000 |
1,000 |
B. Second Withdrawal
Assuming that no additional contributions were made since the first
withdrawal in the last three months and you invested that maximum amount allowed, that is
RM10,000 for Case 1 and RM1,000 for Case 2, the permitted amount for your second withdraw
can be calculated as follows:
|
CASE 1 |
CASE 2 |
| Balance in
Account 1 |
90,000 |
54,001 |
| Amount
exceeding RM50,000 in Account 1 (Y) |
40,000 |
4,001 |
| Minimum amount
that can be invested |
1,000 |
Nil |
| Maximum
amount that can be invested (20% * Y) |
8,000 |
Nil |
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4. |
Can you terminate the services of another FMI and invest through Phillip
Capital Management Sdn Bhd? |
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Yes. You have
to fill in Form KWSP F(iii) AHL to request your FMI to return the funds to EPF. Three
months after your last withdrawal (calculated based on your last warrant date), you can
fill in Form KWSP 9F (AHL) to invest through PCM. |
5. |
What are the terms of investment at Phillip Capital Management Sdn Bhd?
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You are
required to invest your funds through PCM for at least a year, after which you may
terminate our services with one month prior written notice.
The minimum initial investment for the EPF Scheme is RM10,000. Therefore, your balance
in Account 1 must not be less than RM100,000 before your first withdrawal. |
6. |
What steps do you need to take to withdraw funds from your EPF savings to
invest with PCM?
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- You must obtain Form KWSP9F (AHL) and your account statement from EPF. To obtain these,
you can:
a. personally go to your nearest EPF Office or,
b. write in to EPF.
- Fill in Form KWSP 9F (AHL), indicate the amount you wish to withdraw and submit it with a photocopy of your Identity Card to PCM.
We will submit the forms to EPF for further processing. It usually
takes between two to four weeks for the EPF to transfer your EPF funds to PCM. |
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