Press Digest - EPF members who keep savings past withdrawal age to receive dividends up age of 100

PETALING JAYA: Employees Provident Fund (EPF) members who keep their savings in EPF past full withdrawal age (55 years old) will continue to receive dividends up to the age of 100 years, Sin Chew Daily reported today.
In an email reply to the daily, EPF said members who reach 55 years old can opt for full withdrawal of their savings or retain part of or the full amount of their savings to continue to receive dividends up to the age of 100 years old at most.
"Members who wish to maintain their savings in the EPF will continue to receive dividends up to the age of 100 years old and may withdraw them at any point in time. Subsequent to 100 years old, any unclaimed savings will be transferred to Registrar of Unclaimed Monies," it said.
There had been talk since 2012 that EPF intended to stop paying dividends to members once they reached 75 years old but the fund had on a number of occasions denied it was about to implement such a proposal.
EPF disclosed that it currently has 300,508 members who are aged 75 or above and 3,555 of them are active members (making monthly contributions).
It said those who are 75 or above make up just 2% of the total number of 14,830,314 members.