[SPONSORED] This is Why You Need to Use EPF i-Akaun
This is a continuation of a series of sponsored posts about EPF and retirement. See the previous two articles here: Will You Fight or Flight? and What Actual Retirees Say.
Here I’ll share an EPF tool, called i-Akaun and why you need to use it. For the purpose of this article, I created my own EPF i-Akaun.
Click here for the original i-Akaun article on CompareHero.
How to Create EPF i-Akaun
For first-time login, get the activation code first. You can do this by:
- Go to EPF counter or EPF Kiosk, or;
- Call KWSP at 03-89226000. Press ‘0’ to talk to the nice operator, then answer some personal questions for identification purposes. They’ll send the code via SMS.
- THEN go to the first-time login page here. (this page took me a while to find)
- For subsequent logins after activation, click here.
- Optional but handy – download the EPF i-Akaun app.
Reasons to Use EPF i-Akaun
1. View and check EPF statements
This is how much you should have, based on your age.
2. Check how much you can withdraw
You can withdraw for education and housing purposes. View status of withdrawal application here too. Note: You can only withdraw from Account 2.
3. Check who’s your beneficiaries
I.e. who is going to get your EPF money. If you haven’t added beneficiaries, I suggest you do that asap. It’ll make it much easier for them to withdraw later on. Note: You can only submit the names at EPF counter. For security and anti-fraud reasons.
4. Check when is the last time your employer submitted your EPF
Sometimes, irresponsible employers conveniently ‘forget’ about this. If you work, your employers should contribute 13% (or 12%, depending on how much you earn) of your salary towards your EPF. If they did not contribute this, they are in the wrong.
5. Latest info on EPF and office locations
Quite handy I think.
Having tried it out, I’ll have to say the experience was good. It’s convenient – I managed to change my address with no problem. I also checked my beneficiaries and felt secure seeing their names listed there – it’s reassuring to know that if anything happens to me, they will be able to access my EPF money. If you haven’t, I highly recommend you to open your EPF i-Akaun now!
This article was written in collaboration with CompareHero. To stay up to date with the latest news on personal finance in Malaysia, please follow CompareHero Facebook Page.