EPF Rules on Nomination (MUST Read)
There is a chain email spreading about some EPF rules, that makes members worry such as below: If ONE of your nominees in the EPF nominees list dies, automatically the whole arrangement (EPF Nominees list) is VOID . Meaning if, you only put in ONE name & unfortunately he/she dies before you? Automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death. Upon surrender to trustee of AMANAH RAYA, your children will have to battle the money through 3 channels; Majlis Agama Pejabat Tanah Mahkamah Is it TRUE ??? According to EPF, if a member has more than one nominee, and one of the nominees dies during the member’s lifetime, ONLY the portion that was bequeathed to the deceased nominee will be invalid . Should the member later dies without updating his nomination, the other nominees will receive their portion accordingly. Only the portion that was bequeathed to the deceased nominee will be subject to procedures under ‘EPF savings without nom...