The article presents the author's view on the Malaysian Employees Provident Fund system. The said system was known to be mandatory and contributions are based on monthly income, in which 11% of the employees' salary will be deducted. Its members are eligible to withdraw their money prior to the age of 55 to assist with the deposit for a first property purchase. Monthly payments can also be made for a minimum of 12 months. [Download]
The Malaysian way.
- Details
- Category: Social Welfare
- Posted by Sharp, Fiona