MORE ILLNESSES COVERED BY EPF

15th June, 2010
KUALA LUMPUR: The Employees’ Provident Fund (EPF) is allowing withdrawals for more critical illnesses and treatment of family members under the age of 16 for severe asthma, leukaemia and intellectual impairment caused by sickness or accidents.

The list of critical illnesses had been expanded from 13 to 36, EPF chief executive officer Tan Sri Azlan Zainol said in a statement yesterday.

“The new expanded list takes into consideration the significant costs required in treating these critical illnesses, and is aimed at helping members fully settle or help ease their financial burden of seeking treatment,” he added.

Members can now withdraw their savings also for Alzheimer’s Disease, Parkinson’s Disease, chronic liver and lung diseases, Systemic Lupus Erythematosus (SLE) with Lupus Nephritis and paralysis.



Azlan said that for withdrawals to treat family members who are under the age of 16, joint withdrawal could be made with other family members to cover the required medical expenses subject to the balance in Account 2 and total cost of treatment.

Family members include spouse, children, stepchildren or legally adopted children, parents, parents-in-law, step parents or legally foster parents and siblings.

All withdrawals are subjected to the validity of medical report, bills and receipts which must not exceed one year from the date the withdrawal application is submitted.

All bills and receipts must also be in the name of the patient or applicant.

Withdrawals are not allowed for illnesses outside the approved list or when the cost of medical treatment is fully covered by the respective member’s employer or the employer of his or her family members.

Those receiving fertility treatments or alternative treatments such as acupuncture or traditional medication are also not entitled.

The 36 critical illnesses are aplastic anaemia, appalic syndrome, Alzheimer’s Disease, benign tumour of the brain, blindness, cancer, cardiomyopathy, chronic liver disease, chronic lung disease, coma, coronary artery disease, deafness, encephalitis, fulminant viral hepatitis, heart attack, heart valve replacement, kidney failure, loss of independence existence, loss of speech, major burns, major head trauma, major organ transplant, medullary cystic disease, meningitis, motor neurone disease, multiple sclerosis, muscular dystrophy, paralysis, Parkinson’s disease, poliomyelitis, primary pulmonary, stroke, surgery to aorta, systemic lupus erythematosus with lupus nephritis, terminal illness and total permanent disability.

For more information, visit myEPF website at www.KWSP.gov.my, contact 03-89226000 or visit any EPF branch.

Read more...

EPF declares 5.65% payout after a sound performance

KUALA LUMPUR: The Employees Provident Fund (EPF) has declared a divide nd of 5.65% for the financial year ended Dec 31, 2009, an increase of 1.15 percentage points over the 4.50% paid out for 2008.

The dividend rate was declared on the back of the highest ever net income achieved of RM19.63bil, an increase of 34.82% from the RM14.56bil recorded in the previous year.



“2009 was a significant year for the EPF as it rode out the impact of the global financial crisis.

“While the EPF continues to be challenged by the fragile economic environment, our investments nonetheless delivered a sound performance for the year,” chairman Tan Sri Samsudin Osman said in a statement yesterday.

During the year under review, 72.53% of total invest ment was devoted to fixed income instruments in line with EPF’s prudent approach, while 27.05% was in equities and the remainder in property.

As of Dec 31, 2009, EPF’s investment portfolio grew 8.55% or RM29.25bil to RM371.26bil from RM342.01bil in 2008.

On prospects for next year, Samsudin said it would be “greatly dependent on the economic performance of the country and internationally.”

He said globally, financial markets continued to be volatile and this might have an impact on the price performance of EPF’s investments and future income.

“We will continue to focus on our key goals of preserving the capital of our contributors and ensuring a satisfactory real rate of return,” he added. — Bernama

Read more...