KWSP or EPF...have you decided!

The statutory contribution rate of employees’ share will be reduced at 3% from 11% to 8%, effective from January 2009 wage (February 2009 contribution) to December 2010 wage (January 2011 contribution).Members who wish to maintain the contribution rate at 11% may choose to do so by filling up the forms below, now available at all EPF Offices or downloaded from this website.
1. Individual application through: Form KWSP 17A (AHL) – Khas
OR
2. Bulk application through: Form KWSP 17AA (AHL) – Khas

Requirements when filling in the forms:

1. The forms are only applicable for members who wish to increase the contribution rate of employees’ share from 8% to 11% (an increase of contribution rate of 3% only); AND2. The option made through these forms will be effective until December 2010 wage/salary (January 2011 contribution).

Once completed, submit the forms to EPF through members' respective employers.Please refer to Part A and Part B of the Third Schedule of EPF Act 1991 (Amendment) 2008 for the new monthly contributions schedule that will take effect from 1 January 2009 to 31 December 2010.
Employers may also refer to Notice to Employers for further details.

Thank you.

KUMPULAN WANG SIMPANAN PEKERJA
November 2008

I have already fill up the form..nah!...what will 3% saving can do? I will ended up paying more to income tax dept by end of the year. Better to deduct 11% from my salary into EPF...that money is tax free! The goverment is thinking by this 3% saving it will increase the buying power from the consumer....better buy Kia Spectra with 0 percent interest for 12 year period!