The roles of Employees Provident Fund in the 21st century / Low Kuek Long

UNSPECIFIED (1996) The roles of Employees Provident Fund in the 21st century / Low Kuek Long. Jurnal Akademik UiTM Sarawak. pp. 19-24. ISSN 0128-2635

Abstract

Employees Provident Fund (EPF) was established in 1951 under the Employees Provident Fund Act. The EPF savings are primarily meant for life after retirement. The combined contributions from the employees themselves and their respective employers provide a cushion of comfort to enable contributors to maintain their lifestyle after retirement. So far, EPF has accumulated assets of about 98.9 billion. However, with the one per cent increase in contribution from both the employees and employers, this figure will balloon and may easily reach the RM100 billion level well before the turn of the century. As the funds continue to swell, the roles of EPF have to change with changing times to meet the changing needs of its contributors in the 21st century.

Metadata

Item Type: Article
Divisions: Universiti Teknologi MARA, Sarawak
Journal or Publication Title: Jurnal Akademik UiTM Sarawak
ISSN: 0128-2635
Page Range: pp. 19-24
Item ID: 16772
Uncontrolled Keywords: Roles of Employees Provident Fund; Employees Provident Fund Act; life after retirement
URI: http://ir.uitm.edu.my/id/eprint/16772

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