EPF’s i-Invest Enables Direct Unit Trust Investment From EPF i-Akaun

EPF’s i-Invest Enables Direct Unit Trust Investment From EPF i-Akaun

Eligible EPF members can now benefit from the self-service i-Invest online platform within the EPF  i-Akaun (member) portal. Via i-Invest, members can choose to invest in unit trust funds offered by EPF-approved Fund Management Institutions (FMIs).

“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 Chief Executive Officer Tunku Alizakri Alias in a statement today.

About i-Invest:

1. First in the world to directly link members’ retirement funds to online investment services.
2. Sales charges are reduced as the EPF has enforced a maximum cap of 0.5% compared to the current 3% for offline and traditional transactions through agents.
3. Contains tools to obtain and compare information to ensure right selection of unit trust funds that suit members’ savings goals.
4. Members can monitor their investment funds through their i-Akaun, and look up information on cost of investment, historical performance, as well as required statutory information.
5. 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.
6. Members can also open an account to invest in unit trust funds with any FMI through this new facility.
7. For the period of 2019/2020, a total of 389 funds from various categories, namely equity, mixed assets, bond, money market and property trusts, were approved under the EPF Members Investment Scheme.

Members below 55 years old can directly fund their investments from the eligible portion of members’ savings under Account 1 with a sales charge ranging from zero to 0.5% of the transaction amount.

Advertisement

While, 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.

Tunku Alizakri Alias further advised members to exercise caution when making any investment decision and encouraged them to arm themselves with the right information or seek professional advice before committing to any transactions.

Leave your comment