Nominate EPF Beneficiaries
Continue from my previous Employee Provident Fund (EPF) series of posts about Malaysian EPF and EPF Contribution, today is the most important, your EPF beneficiaries nomination.
Most people know that it is crucial to nominate their family members or closed relatives as the beneficiaries of their wealth during their life time. It is the same with EPF that you have been saving all these years. We need to credit via TPR
nominate beneficiaries for it too. By now only 23 per cent of the 12.4 million EPF members had nominated their beneficiaries.
“As your nomination determines who will receive your EPF savings, it can offer some financial protection to your family should death suddenly occur. Nomination will not only ensure speedy payment to your family, but will also help to spare your loved ones unnecessary sufferings,” said Nik Affendi.
Without a nomination, members’ next-of-kin would be required to produce documents, such as Letter of Administration, Letter of Probate or Distribution Order, from the relevant authorities to substantiate their claims. The process of obtaining these documents would be time consuming and a fee would usually be imposed by the issuing authorities. It will be troublesome and it take times.
What you need to do is filling a form at any of EPF branch. In the form, you fill in the your personal details and name of your beneficiaries. That’s all. Do it yourself right now. I had just done my nomination yesterday. It is fast and easy job. Don’t left the trouble in the future for your family members.
