Unclaimed death benefit explained
Published on: Friday, January 30, 2015
Selangor: The Employees Provident Fund (EPF) has denied pocketing the unclaimed RM2,500 death benefit allocated on the death of contributors aged under 55.Its corporate communication manager Ahmad Fauzi Kamarudin said in cases where the next-of-kin were not qualified to claim the death benefit, the money would be kept for annual dividend distribution to all members."The money for death benefit comes from our investment earnings and not from members' savings.
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"If the dependent does not qualify, the money will be distributed to all members as annual dividend," he said.He said this in response to chain messages circulating in social media, questioning who was pocketing the unclaimed money and alleging that the fund did not publicise the existence of the scheme.Ahmad Fauzi said the chain e-mail contained false accusations, adding that the death benefit was given as a gesture of compassion for qualified next-of-kin of contributors who died before reaching the age of 55.It is given to qualified next-of-kin who apply under the death withdrawal scheme within six months of the date of a contributor's death.
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Non-Malaysian citizens were not eligible to claim, he said.An EPF source said the death be–nefit payment was subject to terms and conditions.
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"We will automatically pay the death benefit to the eligible next-of-kin who applied to withdraw the funds within six months of the death of a contributor," said the source.Stay up-to-date by following Daily Express’s Telegram channel.
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