Basic savings are the amount of savings in Account 1 which have been fixed by age to ensure that EPF members will have a saving of at least RM120,000 at age 55. EPF members can invest maximum of 20 percent of their savings in Account 1
(the excess amount of basic savings) in the financial products via the approved financial institutions by the Minister of Finance.
MINIMUM AMOUNT OF BASIC SAVINGS IN ACCOUNT 1
AGE (YEAR) | BASIC SAVINGS |
18 | 1,000 |
19 | 2,000 |
20 | 3,000 |
21 | 4,000 |
22 | 5,000 |
23 | 7,000 |
24 | 8,000 |
25 | 9,000 |
26 | 11,000 |
27 | 12,000 |
28 | 14,000 |
29 | 16,000 |
30 | 18,000 |
31 | 20,000 |
32 | 22,000 |
33 | 24,000 |
34 | 26,000 |
35 | 29,000 |
36 | 32,000 |
AGE (YEAR) | BASIC SAVINGS (RM) |
37 | 34,000 |
38 | 37,000 |
39 | 41,000 |
40 | 44,000 |
41 | 48,000 |
42 | 51,000 |
43 | 55,000 |
44 | 59,000 |
45 | 64,000 |
46 | 68,000 |
47 | 73,000 |
48 | 78,000 |
49 | 84,000 |
50 | 90,000 |
51 | 96,000 |
52 | 102,000 |
53 | 109,000 |
54 | 116,000 |
55 | 120,000 |
Reference:
Kumpulan Wang Simpanan Pekerja
January 2008
www.kwsp.gov.my
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