Many people believe that once a Will is written, everything will automatically be distributed according to that document. But is that really true? If you have a Will, an insurance policy, and savings in Employees Provident Fund (EPF), the distribution does not follow one single channel. In fact, the law treats each of these differently....

Continuing from our previous article (Part 1), we will take a deeper dive in this article.   🔑 Why EPF Nominations Are Crucial If you don’t make a nomination, your family may face delays and extra procedures when claiming your savings. With a nomination: the money goes directly to your nominee(s), much faster, providing them...

Stay informed about your EPF nominations to ensure your savings are distributed according to your wishes. Here are some commonly asked questions: 1️⃣ What is the difference between Muslim and non-Muslim EPF nominations? Muslim members: The nominee is known as a Wasi (Administrator). Their role is to distribute the EPF savings according to Faraid law...

Can I nominate my minor child (below 18 years old) as my EPF beneficiary? Yes, but kindly reconsider. If you nominate a child under 18, KWSP will not release the money immediately. Instead: EPF will act as a trustee and keep the funds until your child reaches 18. A guardian cannot freely withdraw the money,...

Employees Provident Fund (EPF) is one of Malaysia’s most vital retirement savings schemes. Most EPF members name a spouse, child, or parent as their nominee to receive these savings upon death. But what happens if that nominee dies before you and you forgot to update your nomination? This article explains the legal implications and the...