|Topic : EPF beneficiary nomination|
I always tell my friends and family to nominate the benefiaciary of your EPF savings. The links below tell stories of what happens when you do not do so.
I have seen some blogs , and they recommend to check the EPF nominations periodically ( example every 2 years ).
This is because to make sure & update yourself on who is the beneficiary , and with the latest correct IC numbers. Here is some facts about EPF beneficiary nomination :
a. As of June 2011 - only 40%, or 4.71 million of their 12.9 million EPF members have nominated their beneficiaries.
b. Without a nomination, members’ next-of-kins are required to produce documents such as Letter of Administration, Letter of Probate or Distribution Order from the relevant authorities to substantiate their claim. The process of obtaining these documents is time-consuming and a fee will usually be imposed by the issuing authorities.
Name EPF beneficiaries before it is too late
More than half yet to nominate EPF beneficiaries