25+ Kwsp Contribution Rate Above 60 Background. The statutory contribution rate for employees aged 60 years old and above however, remains unchanged. Upon reaching age 55, the contributions made to your account 1 and account 2 will be consolidated into account 55.
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The statutory contribution rate for employees aged 60 years old and above however, remains unchanged. The minimum statutory contribution by employers to malaysia's employees provident fund (epf) for employees aged above 60 will be reduced to 4% per month, down from the previous 6%. The contribution rate is a key data point in identifying a likely source of click flooding.
The last rate you opted for will be the new statutory rate and shall remain so until you and/or your employer submit a notice of cancellation using form kwsp 18a (ahl) and form kwsp 18 (maj) respectively.
The statutory contribution rate for employees aged 60 years old and above however, remains unchanged. The reduction in contribution rate this time round is intended to encourage domestic consumption, and was announced as part the new statutory contribution rate will only apply to those below 60 years of age who are liable for contribution. The last rate you opted for will be the new statutory rate and shall remain so until you and/or your employer submit a notice of cancellation using form kwsp 18a (ahl) and form kwsp 18 (maj) respectively. Members may choose to maintain the employee contribution rate at 11 per cent by completing borang kwsp 17a (khas 2020).
