Myth 1: “If you don’t name any beneficiaries in your EPF accounts, your family members won’t be able to access the funds.”
Many people believe that if they fail to name a beneficiary for their EPF (Employee Provident Fund) account, their family members won’t be able to access the funds.
Truth:
In the event of no beneficiary is named:
- If there’s a clause in your will that addresses EPF, the distribution will follow your will.
- Without a will, the funds will be distributed according to the Distribution Act 1958.
Practical Approach:
To avoid potential delays and complications:
Nominate beneficiaries for your EPF account. This allows your beneficiaries to receive the funds more efficiently, without the need for legal processes such as obtaining a grant of probate or a letter of administration.
Myth 2: “Every nominee gets a share of all EPF balances.”
It’s a common misperception that each nominee listed for an EPF account is limited to receiving an equal portion of the account’s total balance.
Truth:
You have the flexibility to allocate specific amounts or percentages of your EPF savings to different nominees. It is not necessary for your savings to be equally distributed among all beneficiaries; you can assign different proportions to each one based on your wishes.
Practical Approach:
When making nominations, take into account the financial needs and situations of your dependents or beneficiaries. To avoid potential disputes or misunderstandings:
- Clearly state the exact percentage or amount you wish each individual to receive in your nomination form.
- This ensures that your intentions are accurately carried out in case of your passing, and avoids confusion or legal challenges later on.
Myth 3: “ The EPF beneficiary nomination will automatically become invalid after marriage or divorce.”
Some people mistakenly believe that after marriage or divorce, the EPF beneficiary nomination will automatically become invalid.
Truth:
Nominations made before a marriage or divorce remain valid until you manually update them. The EPF does not automatically remove or alter nominations due to changes in your marital status or the death of a nominee.
Practical Approach:
It’s crucial to check and update your EPF beneficiary information following any major life event, such as getting married, getting divorced, or losing a nominee. Maintaining up-to-date nominations guarantees that your savings are allocated in line with your most recent intentions.
Myth 4: “If I include an EPF clause in my will, I don’t have to update my EPF nomination.”
Truth:
The truth is that updating your EPF nomination is still necessary even if your will contains a clause regarding your EPF. Pursuant to the Employees Provident Fund (EPF) Act 1991, a Last Will and Testament cannot and will not override any nomination of beneficiary made in the EPF. This means that the nomination of beneficiary in the EPF prevails over the Last Will and Testament, notwithstanding that the nomination of beneficiary was made earlier than the last Will and Testament.
Practical Approach:
It is crucial to update both your will and your EPF nominations in order to guarantee that your funds are disbursed in accordance with your preferences. You should treat them as separate parts of your estate planning, ensuring consistency between the two.
Myth 5: “Savings will be transferred to Amanah Raya Berhad if unclaimed.”
Truth:
Any unclaimed EPF savings will remain with the EPF. These savings will only be transferred to the Registrar of Unclaimed Monies once the member reaches the age of 100, based on their date of birth. This means the funds won’t be transferred prematurely if unclaimed.
Practical Approach:
To avoid complications and ensure your beneficiaries receive your EPF savings promptly, always keep your nomination up to date. Inform your nominees or next of kin about your EPF account to ensure that claims can be made in a timely manner.
Conclusion:
Understanding the regulations about EPF nominations is crucial for effective estate planning. The myths surrounding EPF savings can lead to confusion and may ultimately jeopardize the financial well-being of your loved ones. Always remember to look into your nominations periodically for anything that changes in your personal life, and make sure they are up to date. This proactive approach not only simplifies the process for your beneficiaries but also provides peace of mind that your intentions will be carried out.
公积金提名以及遗产规划的常见迷思
迷思1 “如果你没有为你的公积金账户指定受益人，你的家人将无法拿到公积金户口里的钱。“
很多人认为，如果他们没有为公积金（EPF）账户指定受益人，家人将无法拿到公积金户口里的钱。
事实：
即使没有指定受益人：
- 如果你的遗嘱中提到公积金，资金将按照遗嘱进行分配。
- 如果没有遗嘱，资金将根据《1958年分配法》进行分配。
实用建议：
为了避免延误和复杂的程序： 建议你为公积金账户指定受益人。这可以让你的受益人更快捷地收到资金，无需通过复杂的法律程序，如申请遗嘱认证等等。
迷思2： “每个受益人只能平分公积金账户的总余额。”
很多人误以为公积金账户上的每个受益人只能得到账户总余额的均等份额。
事实：
你可以自由决定分配给不同受益人的具体金额或比例。你的储蓄不需要均等分配给所有受益人，可以根据自己的意愿给予每个受益人不同的比例。
实用建议：
在指定受益人时，考虑到每个受益人的经济需求。为避免争议或误解：
- 在提名表中明确说明每个人应获得的具体比例或金额。
- 这将确保你的意图得到准确执行，避免将来出现混乱或法律纠纷。
迷思 3: “结婚或离婚后，公积金的受益人提名会自动失效。“
有些人误以为在结婚或离婚后，公积金的受益人提名会自动失效。
事实：
在结婚或离婚之前所指定的受益人仍然有效，直到您更新它们。婚姻状态变化或受益人去世不会自动改变受益人信息。
实用建议：
在你结婚、离婚或受益人去世等重大事件后，记得检查并更新你的公积金受益人信息。确保这些信息是最新的，这样储蓄才能按你的最新意愿分配。
迷思 4: “如果我在遗嘱中提到公积金，就不需要更新公积金提名。“
事实：
即使你的遗嘱中提到公积金，仍然需要更新公积金提名。根据《1991年公积金法》，遗嘱不能取代公积金受益人提名。这意味着公积金的受益人提名优先于遗嘱。
实用建议：
你需要同时更新遗嘱和公积金提名，以确保你的资金按你的意愿分配。把它们当作资产规划的两个部分，确保它们一致。
迷思 5: “如果储蓄未被领取，将转移到Amanah Raya Berhad。“
事实：
任何未被领取的公积金储蓄将继续保留在公积金账户中。只有当会员达到100岁时，资金才会转移到不动产登记局。这意味着未领取的资金不会过早转移。
实用建议：
为了避免任何问题，确保受益人能及时领取公积金储蓄，你需要随时更新提名信息。让受益人或家人知道你的公积金账户情况，以确保他们能及时领取资金。
结论：
了解公积金提名的规则对你的资产规划非常重要。如果对公积金的提名有误解，可能会引起不必要的麻烦，甚至影响到家人的经济状况。你应该定期检查你的提名，确保在生活有变化时及时更新。这样做不仅让受益人更容易领取资金，也让你更加放心。
