Unlock your path to a worry-free retirement with our simple, step-by-step KWSP account registration guide. Dive into the essential benefits and secure your financial future today – it’s easier than ever with just a few clicks!
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KWSP Account
Are you worried about your finances after retirement? Don’t worry, we have the solution! With just a few simple steps, you can open a KWSP (Employees Provident Fund) account and start saving for a more secure future.
Believe it or not, the process is easier than you think! Many have already enjoyed the benefits, and now it’s your turn. Don’t delay any longer; learn how to do it now to ensure you don’t regret it in the future.
Why Save with KWSP?
- Life After Retirement: It’s necessary to have sufficient savings.
- Basic Savings: According to KWSP, an individual needs at least RM240,000 by the age of 55.
- Statistics: More than 50% of KWSP members do not reach this amount.
- Financial Stability: Saving from a young age provides financial stability in the future.
- Self-Reliance: You can save even if you are self-employed, ensuring a more secure future.
Requirements for Opening a KWSP Account
- Malaysian Citizens: Only for Malaysian citizens.
- Non-Citizens (Permanent Residents): Permanent residents are also eligible to register.
- Employees in Malaysia: Only for those working within the country.
How to Register for a KWSP Account
Online Registration
- Visit the official KWSP website.
- Select ‘Register.’
- Fill in the registration form with the required information such as:
- Full Name
- Identification Card Number
- Address
- Phone Number
- Email Address
Register at a KWSP Counter
- Visit any KWSP branch.
- Bring:
- Identification Card (MyKad)
- Supporting documents if necessary
- Fill in the registration form at the counter with assistance from KWSP staff.
Important KWSP Information
KWSP Contributions
- Employer: Contributes 12-13% of the employee’s salary.
- Employee: Contributes 11% of the monthly salary.
- Total Savings:Retirement Account (Account 1)
- Purpose: For savings after retirement
- Contributions: 75% of your monthly contributions
Well-being Account (Account 2)
- Purpose: For pre-retirement needs like housing or medical expenses
- Contributions: 15% of your monthly contributions
Flexible Account (Account 3)
- Purpose: Allows withdrawals at any time for urgent needs
- Contributions: 10% of your monthly contributions
KWSP Withdrawals
- Housing Withdrawals:
- For the purchase of the first house.
- Monthly mortgage payments.
- Education Withdrawals:
- Tuition fees for higher education institutions.
- Health Withdrawals:
- Payment of hospital bills and specific medical treatments.
- Withdrawals at Age 50, 55, and 60:
- Full withdrawal of savings.
i-Sinar and i-Lestari
Special financial assistance to alleviate the burden during the COVID-19 pandemic.
Further Inquiries
- Use the ‘Ask ELYA’ service on the KWSP website for any additional questions.
- Contact KWSP customer service at 03-8922 6000.
With this complete guide, it is hoped that the registration and opening process for a KWSP
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