Tuesday, June 15, 2010

Diversified From EPF to Unit Trust

Significantly larger number of EPF members withdrew part of their retirement savings for investment in unit trusts.

The amount withdrawn under Members’ Investment Withdrawals in first quarter of 2010 (Q1 2010) increased by 43.26 per cent to RM911.15 million (Q4 2009: RM896.66 million) from RM636.01 million withdrawn in the corresponding period in 2009. Total applications approved under this withdrawal increased to 113,809 (Q4 2009: 114,375) from 87,420 in the same period last year.

The increase in withdrawals for investments is in tandem with the recovery in the domestic economy that began in the third quarter of 2009 and has since continued to gain momentum. The increase was also attributed to the rise in the number of members who are eligible for investment withdrawals.

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