This FAQ is taken from EPF's i-Invest portal and published as a form of reference for Malaysians who has yet to register an EPF i-Akaun.
Registered members on the other hand may log-in to their EPF i-Akaun and and access all information at the i-Invest platform via the Investment tab.
Registered members on the other hand may log-in to their EPF i-Akaun and and access all information at the i-Invest platform via the Investment tab.
What is an EPF i-Akaun?
i-Akaun is an online services portal provided EPF
What is an EPF i-Invest Online Platform?
An online portal that enables eligible members to invest directly in unit trust (UT) funds offered by EPF-approved fund management institutions. The i-Invest platform is accessible via the Investment Tab of an i-Akaun member. Features of this platform are:
- Information hub: You can access, analyse and compare useful information on Fund Management Institutions (FMIs) and approved unit trust funds, such as cost of investment, historical performance and statutory information.
- Efficiency: Real-time transactions and shorter end-to-end processes by eliminating the middle men.
- Flexibility: You can execute unlimited transactions (buy, sell or switch) at anytime from anywhere in the world on any number of approved unit trust funds offered by FMIs. If you are aged 55 and above, you can still utilise the i-Akaun (Member) to invest conveniently with FMIs. However, EPF releases control over such investments, as they are withdrawals from your Akaun 55 and/or Akaun Emas.
- Cost optimisation: Initial service charge capped at 0.5% through the i-Akaun (Member) versus 3.0% through agents.
- Functionality: You can view your consolidated Members Investment Scheme (MIS) investment holdings with detailed breakdowns by FMIs/IUTAs, approved unit trust funds and private mandate portfolios.
What is Members Investment Scheme (MIS)?
Members Investment Scheme (MIS) is an initiative by the EPF to provide investment options to members in enhancing their retirement savings. It allows only eligible members to voluntarily transfer a portion of their excess savings from EPF Account 1 to FMIs/IUTAs for eligible investments. The MIS was introduced in November 1996.
Am I eligible to invest through MIS?
You can invest through MIS if:
- Your EPF Account 1 savings exceed Basic Savings;
- You are aged below 55*; and
- You have an investment account with any FMI/IUTA
* If you are aged 55 and above, you can still utilise the i-Akaun (Member) to invest conveniently with FMIs/IUTAs. However, EPF releases control over such investments, as they are withdrawals from your Akaun 55 and/or Akaun Emas.
What is Basic Savings?
It is the minimum level of savings you should have in your EPF Account 1. The minimum level increases with your age. If your EPF Account 1 balance is below your Basic Savings, you cannot invest through MIS. Click here for Basic Savings table.
How can I invest through MIS?
You can now invest through MIS using: (a) agents; or (b) the i-Akaun (Member). The Investment tab on the i-Akaun (Member) is an online, self-service function that does not require agents. As such, you may be charged higher fees when investing through agents versus the i-Akaun (Member).
How much can I invest through MIS?
You can invest your entire Available Investment Amount. After clicking on the Investment tab on the i-Akaun (Member), your Available Investment Amount is shown under the BUY tab. For further information:
- You can invest all your Available Investment Amount. Available investment amount = Eligible investment amount - Transferred amount.
- The Eligible Investment Amount is equivalent to 30% of any amount exceeding your Basic Savings. The transferred amount is the amount that has already been invested through MIS.
- Furthermore, the minimum MIS investment amount is RM1,000. Therefore, the minimum savings in excess of Basic Savings required is RM3,333.34, such that RM3,333.34 x 30% = RM1,000.
Members aged 55-60:
- Your Available Investment Amount is equivalent to almost the entire Akaun 55 balance; however, you must maintain at least RM1,000 in the account.
- Furthermore, the minimum withdrawal amount for investments with FMIs is RM1,000.
- Your Available Investment Amount is equivalent to almost the entire combined balances in your Akaun 55 and Akaun Emas; however, you must maintain at least RM1,000 in Akaun Emas.
- Furthermore, the minimum withdrawal amount for investments with FMIs is RM1,000.
- The minimum investment amount also depends on the chosen unit trust fund and whether the investment is an initial or subsequent one.
If you are 30 years old, the Basic Savings is RM35,000. If your EPF Account 1 savings balance is RM50,000, the Eligible Investment Amount is: (RM50,000 - RM35,000) x 30% = RM4,500.
If you have already invested RM2,000 through MIS within the current validity period, the Available Investment Amount is RM4,500 - RM2,000 = RM2,500, which is more than the minimum MIS investment amount of RM1,000.
If the minimum fund investment amount is RM1,200, you must invest at least RM1,200 in the unit trust fund, up to a maximum of RM2,500.
If you are 30 years old, the Basic Savings is RM35,000. If your EPF Account 1 savings balance is RM37,000, the Eligible Investment Amount is: (RM37,000 - RM35,000) x 30% = RM600.
You cannot invest through MIS since RM600 is less than the minimum MIS investment amount of RM1,000.
What is the validity period?
After clicking on the Investment tab on the i-Akaun (Member), your validity period is shown under the BUY tab. For further information:
Your eligible and Available Investment Amounts are applicable for 3 months only, beginning from any attempted MIS transactions after the end of the last validity period (if any).
For example, if you attempt a MIS transaction on 4 January 2019, the validity period will be from 4 January 2019 to 3 April 2019. You may make as many transactions as you wish within this validity period, subject to the Available Investment Amount. After 3 April 2019, if you attempt a MIS transaction on 1 May 2019, the updated validity period will be from 1 May 2019 to 31 July 2019.
What is FMI?
A FMI is a fund management institution approved by the EPF to offer eligible investments to EPF members. FMIs are typically unit trust management companies (UTMCs) or asset management companies (AMCs). FMIs are governed by the EPF’s Guidelines on EPF MIS.
What is an IUTA
An IUTA or Institutional UTS Adviser is a corporation registered with FIMM that is authorised to market and distribute various unit trust funds of FMIs. When investing through the i-Akaun (Member), approved unit trust funds of certain FMIs can only be transacted through IUTA platforms (this is because the relevant FMIs do not have their own platforms that are connected to the i-Akaun (Member)).
When does the EPF release control
The EPF releases control over investments through MIS, subject to any other conditions, under the following scenarios:
- You have attained the age of 55;
- You have passed away and a full withdrawal of your EPF savings is made by your next-of-kin, beneficiaries and/or nominees;
- You make a full withdrawal of your EPF savings due to physical or mental incapacitation that prevents employment;
- You make a full withdrawal of your EPF savings as a non-Malaysian and are about to leave Malaysia; or
- You make a full withdrawal of your EPF savings as a pensionable employee aged below 55 and are still employed with the Government of Malaysia, any State Government or any statutory or local authority.
What happens when EPF releases control
When the EPF releases control, you must deal directly with FMIs in relation to any investments previously made through MIS. If you redeem any investments, the proceeds cannot be deposited back into your EPF account(s), and must be deposited into your personal bank account. Kindly contact the relevant FMI for further clarification.
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