Thursday, August 26, 2010

FDC Setem Sambutan 50 Tahun Jubli Emas KWSP

The 50th Golden Anniversary of EPF

The Employees Provident Fund (EPF) was established under the EPF Act 1951. The EPF is a statutory organization that is responsible for providing financial security in the form of savings for its members upon their retirement.

Until 1958, the Director of Post administered the Fund and subsequent to that, the Board took over its operations. The EPF received its first monthly contributions, totaling RM2.6 million from 518 948 members in August 1951. Fifty years later, its membership increased to 9.7 million with annual contributions of RM20.97 billion.

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