After marriage or register for marriage officially, I believe one of the most important financial actions is to name our spouse as the beneficiary or one of the beneficiaries in our financial related documents especially EPF (for Malaysian).
Thus, recently Dave and I went to the EPF office to update our beneficiaries details.
For Dave, this is the first time he names his EPF. As for me, I am updating my beneficiaries. And I did share how to make your EPF nomination in my other post.
Earlier, I discussed with Dave and suggested to him that we add 1 additional name as our beneficiaries, in case anything happens to both of us, there is another trusted person to take care of our EPF savings.
So, other than our names, we placed an additional name as our beneficiaries.
I am surprised by the new EPF system. It was fast and prompt. Firstly, we need to get and complete Form KWSP 4 (Borang Penamaan). The form is free of charge and we will have to attach it with a photocopy of our NRIC.
When it is our turn, the officer was friendly and prompt as well. After verification, he printed the new updated beneficiaries details for us immediately.
A few days later, we received the updated information once again through postal mail. It was fast and efficient. I do hope EPF will keep up the good work.
How about you? Have you named your EPF beneficiary or beneficiaries? If there are changes in your life, are you going to update your EPF beneficiaries?
It is wise to act now to ensure that our hard-earned money goes to the right person especially our loved ones.
it is bring by technology.
tools are all there, just depends on whether we are willing to fully utilize them.
Yes, it's time to fully utilize them. And most importantly make sure our hard earn money goes to the right person.