A higher level of savings for workers
We thank T.S. of Petaling Jaya for his letter regarding Employees Provident Fund ( EPF) contributions for employees over 55years of age ( ” Flaw that hits any worker older than 55″—NST, Sept 
Prior to Feb 1, 2008, it was not mandatory for EPF contributions to be made on behalf of employees above the age of 55 if they had fully withdrawn their EPF savings.
However, effective that date, the EPF had made it mandatory for employers to pay EPF contributions on behalf of all employees who are above 55 and below 75.
With the introduction of this ruling, employees above the age of 55 will now receive a mandatory six per cent EPF contribution from their employers and they will contribute 5.5 per cent. Both parties can opt to contribute more than these statutory rates, or increase them to the pre-55 contribution rates.
We would also like to point out that the EPF cates for private-sector employees whose retirement age is still fixed at 55.
As the nation’s premier retirement fund, EPF ‘ primary concern has always been the adequacy of savings for our members when they retire.
All changes introduced are intended to provide a higher level of savings for our members.
Nik Affendi Jaafer
for Employees Provident Fund
–New Strait Times