Monday, July 27, 2009

update EPF nominees when any one of them dies

I haven't confirmed this with EPF yet but drom my past 15 years of experience dealing with them, I am not surprise if this is true. Please exercise caution with this info and take good care of your EPF savings.


Info Sharing.

If ONE (1) of our Nominee in the EPF Nominees list deceased, automatically the whole arrangement (EPF Nominees list) is VOID. Meaning if, you only put in One (1) name & unfortunately he/she dies before you – automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.

Thou if, you DO have few names in the EPF Nominees list still - the whole arrangement is VOID & none of the individual balance name in the EPF Nominees list will get their potion & automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.


Piece of advice - if any of the your Nominee in the EPF Nominees list decease, please do immediately approach the nearest EPF counter & present the Death Certificate of the individual & re-instate you NEW / LATEST Nominee in the EPF Nominees list + NEW / LATEST percentage
.

If, you & the other party (maybe spouse) involved in the same misfortune (accident / illness) that caused death to both yourself / spouse please, please, please alert your siblings / relatives / parents to immediately approach the nearest EPF counter & share the information within 3 days to AVOID all EPF money to be surrender to trustee of AMANAH RAYA.

Upon surrender to trustee of AMANAH RAYA, your children will have to battle the money thru 3 channels;

Majlis Agama

Pejabat Tanah

Mahkamah


The normal period via above 3 channels usually takes 2-3 years (except if you have inside/tip top connection) at Amanah Raya.

2 comments:

alantanblog said...

True...It void because the existing ratio would be invalid

Michael Tsen said...

thanks for confirmation and logical explanation ... but shouldn't the distribution follow through its heir instead of totally voiding the whole intention ?