Do you wish to know how to make EPF nomination? If yes, read on. Because I am going to share how I did my EPF nomination.
I will also share the reasons why you should make your nomination and other important things you should be aware of.
How to make an EPF nomination?
If you are an EPF member and you meet the criteria below, you can make an EPF nomination:
- above 18 years old
- Malaysians or Permanent Residents
- non-Malaysian registered as EPF members before 1st August 1998
To make the nomination, the eligible member must visit the nearest EPF office.
I shared how I did my nomination:
- Downloaded the required form for the nomination, Form KWSP 4. Read through and fill in the details.
- Visited the nearest EPF office with the following documents:
- original NRIC
- a copy of my NRIC
- a copy of the NRIC of my nominee(s)
- completed Form KWSP 4
- At the EPF centre, the EPF officer checked and verified the details in Form KWSP 4.
- When the details were completed and verified, I was required to put my thumbprint on Form KWSP 4.
- Finally, the officer gave me a copy of the printout of my nomination details.
Actually, the whole process was quite swift and simple. Of course, you need to have all the required documents ready.
After the nomination, I am able to view the details on my i-Akaun. But, I will not be able to change the nomination through i-Akaun.
For any changes to the nomination, I need to personally do it at the nearest EPF office.
Why we should make an EPF nomination?
Even though the nomination process is simple and not time-consuming, there are still many who have not made any nominations.
Perhaps these EPF members are not aware of the importance of EPF nomination.
So, here are 4 reasons why we should make the nomination:
1. An accident can happen anytime
We all know and are aware that an accident can happen at any time. Before anything happens, we should plan ahead for our dependents.
Among them is making an EPF nomination. That is because EPF only accept nomination made by the member during his or her lifetime.
2. EPF savings can be a huge amount
For many of us, our EPF savings can be the biggest saving that we have. And the savings can be a huge amount.
So, we should make the nomination to ensure that this amount goes to those whom we care for.
3. We love and care about our loved ones
Personally, this is the reason why I made my nomination.
I wanted to make sure, in case the unfortunate happens to me, my hard-earned money goes to the rightful people.
And I understand that the nomination ensures the following:
1. To ensure our EPF savings go to the rightful person according to our wish
I am sure we have loved ones, our spouses, children, parents or siblings.
Should the unfortunate happen, the nomination ensures that the savings go to the person according to the member’s wish.
2. To smoothen the process of EPF withdrawal
The nomination also ensures the withdrawal process is smooth. Because everything is stated on the nomination.
3. To make the EPF withdrawal faster
With the nomination, the withdrawal is also swift and hassle-free according to the member’s wishes.
4. Avoid additional costs involve
Other than the above, the nomination also avoids the need to engage with a third party for the EPF withdrawal.
Without the nomination, there is an additional process involved. And the process can be long and expensive too.
4. It is free
Lastly, there are no charges for the nomination. EPF member just needs to personally go to the nearest EPF office with the necessary documents.
And the nomination takes effect with immediate effect.
Additional notes on EPF nomination
Other than the above, I would like to add additional notes on EPF nomination:
1. Update your nomination
Firstly is to update your nomination if the need arises.
An example is a change of marital status where you might want to consider updating the nomination with your spouse’s name.
2. Tell the nominee(s) about your nomination
Secondly is to tell the nominee(s) about your nomination. So that the nominee(s) are aware of the nomination and can act accordingly.
Because the nomination is deemed void if the nominee fails to make a withdrawal application within one year from the member’s date of death.
Therefore, it is of utmost importance to tell the nominee about the nomination.
Final thoughts
For many of us, EPF savings can be our biggest savings.
So, make sure these biggest savings from our hard-earned money goes to the right person, should the unfortunate happen.
For more details on the EPF nomination, you can refer to EPF’s official website.
Lastly, please share this important information with your friends and family.
