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The EPFO's top decision-making body is the Central Board of Trustees (CBT), [2] [3] a statutory body established by the Employees' Provident Fund and Miscellaneous Provisions (EPF&MP) Act, 1952. [4] As of 2021, more than ₹ 15.6 lakh crore (US$209 billion) are under EPFO management.
As a retirement plan, money accumulated in an EPF savings can only be withdrawn when members reach 50 years old, during which they may withdraw only 30% of their EPF; members who are 55 years old or older may withdraw all of their EPF. [14] When a member dies beforehand, the EPF fund is withdrawn in favour of a nominated individual. [15]
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka. It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike , [ 3 ] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [ 4 ]
KWAP is one of three main bodies in Malaysia's pension system, the others being the Employees Provident Fund (for private sector employees) and Armed Forces Fund Board (for military personnel). [1] It is also regarded as one of Malaysia's government-linked investment companies (GLICs). [2] [3]
Amir held the position of CEO of the Employees' Provident Fund from 1 March 2021 to 12 December 2023, replacing Tunku Alizakri Alias, Member of the Board of Sime Darby as well as the Chairman of Malaysian Resources Corp Berhad (MRCB). [7] [8] He was appointed a Senator and Minister of Finance II in 12 December 2023.
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Employees Provident Fund or Employees' Provident Fund refer to: Employees' Provident Fund Organisation, in India; Employees Provident Fund (Malaysia)