EPF Contributors Will Receive A Dividend After 75 Years | The Employees Provident Fund (EPF) clarified that all contributors, including those aged 75 years and over, always receive their annual dividend.
In a statement today, the Fund denied reports that approximately 260,000 EPF contributors aged 75 years and over did not receive the dividend.
"Policy approved in 2008, was not implemented. Instead, we encourage contributors aware of the risks their savings transferred to the Registrar of Unclaimed Monies if storage is not used.
"In this regard, we no different from other financial institutions such as banks that have the same policy.
"We are aware of the confusion that may arise and are now in the final stage to amend the EPF Act 1991 to ensure that contributors receive regular income from their savings even after retirement," the statement said.
The Sun today reported that the EPF since 2008 has stopped paying dividends to the account holder when they are aged 75 years.