EPF sitting on RM377.8m unclaimed contributions
KUALA LUMPUR: Employees Provident Fund (EPF) contributions totalling RM377.8mil have yet to be claimed by 188,733 members over 75 years up to Dec last year.
Deputy Finance Minister Datuk Dr Awang Adek Hussin told parliament almost all the contributors had incomplete information with only 1,960 identified according to the states.
"Johor has 124 cases, Kedah (101), Kelantan (26), Melaka (33), Negeri Sembilan (43), Pahang (76), Perak (141), Penang (148), Sabah (236), Sarawak (371), Selangor (340), Terengganu (41) and Kuala Lumpur (280).
"They involve contributions of RM19.6 million. The remaining RM358.2mil from 186,773 cases had no state information," he said in reply to the original question by Datuk Dr Marcus Mojigoh (BN-Putatan) here today.
Mojigoh asked about unclaimed EPF contributions according to states and the period given before they were disposed off.
Awang said the unclaimed contributions would be kept in their accounts until they reach 80 years, five years after members stopped contributing to EPF.
After they reach 80 years, the contributions would be transferred to the Unclaimed Money Division, consistent with the Employees Provident Fund Act 1991.
"However, if the contributors or beneficiaries wish to claim them, we will help to produce documents and information as prescribed by procedures," he said.
Under the Unclaimed Money Act 1965, the amount will be transferred from the Consolidated Trust Account to the Consolidated Revenue Account 15 years after the date of receipt by the Registrar of Unclaimed Money. - BERNAMA
Deputy Finance Minister Datuk Dr Awang Adek Hussin told parliament almost all the contributors had incomplete information with only 1,960 identified according to the states.
"They involve contributions of RM19.6 million. The remaining RM358.2mil from 186,773 cases had no state information," he said in reply to the original question by Datuk Dr Marcus Mojigoh (BN-Putatan) here today.
Mojigoh asked about unclaimed EPF contributions according to states and the period given before they were disposed off.
Awang said the unclaimed contributions would be kept in their accounts until they reach 80 years, five years after members stopped contributing to EPF.
After they reach 80 years, the contributions would be transferred to the Unclaimed Money Division, consistent with the Employees Provident Fund Act 1991.
"However, if the contributors or beneficiaries wish to claim them, we will help to produce documents and information as prescribed by procedures," he said.
Under the Unclaimed Money Act 1965, the amount will be transferred from the Consolidated Trust Account to the Consolidated Revenue Account 15 years after the date of receipt by the Registrar of Unclaimed Money. - BERNAMA
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