The Employee’s Provident Fund (EPF) announced that it has connected five additional platforms from six fund management institutions to its i-Invest self-service online facility.
The platforms are from Affin Hwang Asset Management Berhad, Kenanga Investors Berhad, RHB Asset Management Sdn Bhd (sharing its platform with RHB Islamic International Management Berhad), Hong Leong Asset Management Bhd and TA Investment Management Berhad.
Up to April 30, 2020, i-Invest recorded approximately 25,000 transactions with an overall value of RM219.3million. There is now a total of 10 FMI platforms directly connected to i-Invest.
Members investing through I-Invest will not be charged any upfront fee by FMIs for 12 months. This will allow members to diversify their retirement portfolio platform.
For members below 55 years old, investment can be funded directly from the eligible portion of their savings under Account 1. Members aged 55 and above can utilise i-Invest using Akaun 55 or Akaun Emas through i-Akaun as a mode of withdrawal, subject to maintaining a minimum of RM1,000 in their account.
However, EPF Chief Executive Officer Tunku Alizakri Alias advised members interested in utilising i-Invest to continue to exercise caution when making any investment decision and encouraged them to arm themselves with the right information or seek professional advice before committing to any transactions.
The core objective of I-Invest is to enhance EPF members’ flexibility when conducting Members Investment Scheme (MIS) transactions online. Contact KWSP for more information.