Malaysia: EPF launches online platform for unit trust investment

• Aug 19, 2019

KUALA LUMPUR: The Employees Provident Fund has launched its i-Invest online platform, which allows members to make informed investments in unit trust funds offered by EPF-approved fund management institutions (FMI).

According to a statement, the platform allows members to monitor their investment funds through their i-Akaun and look up information on cost of investment, historical performance, as well as required statutory information.

Via i-Invest, members may transfer from their EPF Account 1 up to 30% of the amount in excess of basic savings to be invested in the qualified funds, the statement said.

Members can also use i-Invest to open an account with any FMI to invest in unit trust funds.

The sales charge for purchases via i-Invest is capped at 0.5%, which compares to 3% for offline purchases and traditional transactions through agents.

“We are very excited about introducing i-Invest, as this digitally powered facility empowers our members to take control of their investments and make transactions at nearly zero cost,” said EPF CEO Tunku Alizakri Alias.

Members aged 55 and above can utilise i-Invest using Akaun 55 or Akaun Emas through i-Akaun as a mode of withdrawal, subject to maintaining a minimum of RM1,000 in their account.

The EPF enforces strict guidelines for FMIs to safeguard members’ interests and has approved 389 funds from various investment categories under the EPF Members investment Scheme in 2019/20.

Source: https://www.thestar.com.my/business/business-news/2019/08/19/epf-launches-online-platform-for-unit-trust-investment#WF77ghwIKMvV5qIW.99