(The above form is just a SAMPLE and is just to show the required form used by KWSP)
This is from a well known legal firm here in KL.
Thursday, March 13, 2014
If ONE (1) 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 (1) name & unfortunately he/she dies before you - automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.
Even though if you have few names in the EPF Nominees list, - the whole arrangement is VOID & none of the individual names left in the EPF Nominees list will get their portion &automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.
Piece of advice - if any of the your Nominees in the EPF Nominees list dies, please do immediately approach the nearest EPF counter & present the Death Certificate of the individual & register your 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 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 surrendered 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.
Ch*** & CO
Advocates & Solicitors
Level Menara
No. Jln Sultan Ismail
50250 Kuala Lumpur , Malaysia
GEN Tel: +60-(0)3-20xx 3xx8
GEN Fax: +60-(0)3-20xx 3xxx/1
If ONE (1) 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 (1) name & unfortunately he/she dies before you - automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.
Even though if you have few names in the EPF Nominees list, - the whole arrangement is VOID & none of the individual names left in the EPF Nominees list will get their portion &automatically EPF will channel your EPF money to trustee of AMANAH RAYA upon your death.
Piece of advice - if any of the your Nominees in the EPF Nominees list dies, please do immediately approach the nearest EPF counter & present the Death Certificate of the individual & register your 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 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 surrendered 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.
Ch*** & CO
Advocates & Solicitors
Level Menara
No. Jln Sultan Ismail
50250 Kuala Lumpur , Malaysia
GEN Tel: +60-(0)3-20xx 3xx8
GEN Fax: +60-(0)3-20xx 3xxx/1
My comments : So they make the rules more complicated so that Amanah Raya gets 'free money' from EPF members. Isle ke macam tu ya sheikh?
Tukar borang untuk menyusahkan orang lagi. Lepas tu bila orang tak isi borang dengan betul, waris dia kena ke hulu ke hilir nak ambil balik duit dia.
If it is going to take two or three years for the heirs or inheritors to get the EPF funds, how can they pay the university entrance fees? How to pay downpayment for the house? University dah closing date. Developer pun dah 'cancel booking' rumah. Macam mana nak beli rumah? This may or may not be the case but I doubt anyone can extract their own money from Amanah Raya like from the ATM machine.
May I suggest a simple solution? Tulis lah macam ini :
1st nominee is Mr X. If X dies then
2nd nominee is Mr Y. If Y dies then
3rd nominee is Mrs XX. If XX dies then
4th nominee is Mr XYZ. If XYZ dies then
5th nominee is Mr ZZYY. If ZZYY dies then
6th nominee is etc etc..
In other words, make allowances now in case someone drops dead. Janganlah menyusahkan manusia sebab isu remeh temeh. Tak payahlah EPF hantar duit ke Amanah Raya atas sebab remeh temeh. Kalau tak ada waris, then its ok hantar lah. But not because of some "syarat-syarat mengisi borang" situation.
Kalau kita Isle kita jangan menyusahkan manusia. Isle itu tujuannya untuk memudahkan hidup manusia. Buke untuk menyusahkan manusia.
Tukar borang untuk menyusahkan orang lagi. Lepas tu bila orang tak isi borang dengan betul, waris dia kena ke hulu ke hilir nak ambil balik duit dia.
If it is going to take two or three years for the heirs or inheritors to get the EPF funds, how can they pay the university entrance fees? How to pay downpayment for the house? University dah closing date. Developer pun dah 'cancel booking' rumah. Macam mana nak beli rumah? This may or may not be the case but I doubt anyone can extract their own money from Amanah Raya like from the ATM machine.
May I suggest a simple solution? Tulis lah macam ini :
1st nominee is Mr X. If X dies then
2nd nominee is Mr Y. If Y dies then
3rd nominee is Mrs XX. If XX dies then
4th nominee is Mr XYZ. If XYZ dies then
5th nominee is Mr ZZYY. If ZZYY dies then
6th nominee is etc etc..
In other words, make allowances now in case someone drops dead. Janganlah menyusahkan manusia sebab isu remeh temeh. Tak payahlah EPF hantar duit ke Amanah Raya atas sebab remeh temeh. Kalau tak ada waris, then its ok hantar lah. But not because of some "syarat-syarat mengisi borang" situation.
Kalau kita Isle kita jangan menyusahkan manusia. Isle itu tujuannya untuk memudahkan hidup manusia. Buke untuk menyusahkan manusia.
its a chain email la bro.
ReplyDeletehttp://www.kwsp.gov.my/portal/documents/10180/181298/EPF%20Response%20to%20Chain%20Email%20on%20Nomination__BI.pdf
EPF’s Response:
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 nomination’ in which the first priority for the right to claim the member's savings goes to the nearest next of kin or the appointed administrator of the deceased member’s estate.
Therefore it is not true that if you, as a member, have named more than one nominee, the entire nomination will be void if one of the nominee dies before you. It follows however that if you have named only one nominee and he or she dies before you, the nomination will be void unless a new beneficiary is nominated.
Please note that you don’t have to produce the death certificate of a deceased nominee to change your nomination. You can change/update your nomination anytime by simply completing a new KWSP 4 Form. This will automatically revoke any earlier nomination made.
The information concerning approaching EPF counter within 3 days to avoid EPF savings being ‘surrendered to Amanah Raya’ if no nomination is made or if nominee dies at the same time as the member is not true.
Depending on the amount of savings in the member’s account, if there is no
nomination the procedure will be as follows:
• If member’s EPF savings are less than RM25, 000:
Initial sum of RM2, 500 will be paid to the next of kin.
The balance will be paid after a two-month period from the date of the member’s death.
• If member’s EPF savings are more than RM25, 000:
Initially a sum of RM2, 500 will be paid to the next of kin.
The second payment (not more than RM17, 500) will be paid to the next of kin after two months from the date of the member’s death.
The balance of the savings will be paid upon submitting the Letter of Administration/Letter of Probate/Distribution Order/Faraid Certificate from the party that administers estates such as Amanah Raya Berhad or the Court or the Land Office, respectively. The process to obtain these documents is time consuming and certain fees will also need to be paid. On the other hand, with nomination, no fees need to be paid.
This is precisely why nominating is very important. You should also ensure that you update your beneficiary whenever there are any major life changes such as marriage, additional new members or the death of a nominated beneficiary.