The EPF statement, in the context of Malaysia, is a document provided by the Employees Provident Fund (EPF) or Kumpulan Wang Simpanan Pekerja (KWSP) in Malay. It contains a detailed record of an individual’s contributions and employer’s contributions towards the provident fund over a certain period.
This EPF statement is used for financial planning and retirement savings. It can be accessed online through the i-Akaun portal provided by KWSP or by visiting an EPF kiosk.
Why is EPF Statement Important?
The EPF statement is important because it provides a detailed record of an individual’s and their employer’s contributions to retirement savings. It enables them to monitor and manage their funds effectively. It helps individuals track their savings and retirement plans by providing a clear record of contributions made over time.
EPF statement is often required when applying for loans or other financial products. Banks and other financial institutions often require a recent EPF statement during loan or credit applications. It is needed to assess an individual’s financial stability and repayment capacity. It acts as a proof of employment and income, which can be crucial for various official and legal purposes.
It can also be used for tax purposes when claiming deductions on income tax for EPF contributions. By regularly reviewing their EPF statement, individuals can detect and rectify any discrepancies or errors in their contributions or employer’s contributions.
How to check EPF Statement?
Checking your EPF statement is straightforward through the i-Akaun portal by KWSP. You can log into the i-Akaun website using your credentials. Once logged in, go to ‘My Account‘ at the top of the page, select the relevant year from the drop-down menu, and click ‘Search‘. Your EPF statement for the chosen year will be displayed, and you have the option to download or print the statement for your records.
Preparing for i-Akaun Access
Before you can download and print your EPF statement, you’ll need to have an i-Akaun. i-Akaun is an online account provided by KWSP. If you don’t have an i-Akaun, you can obtain an activation code by calling KWSP at 03-8922-6000 or visiting an EPF kiosk.
Downloading Detailed EPF Statement
Once your i-Akaun is activated, follow these steps to download a detailed EPF statement:
- Log into the i-Akaun website.
- Verify the security image & secret phrase, and enter your password.
- Navigate to ‘My Account‘ from the options at the top of the page. Choose the correct year from the drop-down and click ‘Search‘.
- Scroll down to ‘Print/Download Statement‘. Select ‘Detail Statement‘ from the drop-down menu, then click ‘Download‘.
Printing Your EPF Statement
If you prefer to have a printed copy of your EPF statement, follow these steps:
- Go back to the i-Akaun login page and enter your username and password.
- At your i-Akaun homepage, click ‘MyAccount’ on the top navigation bar.
- Choose the EPF statement year you wish to print.
- Scroll to the bottom of your online EPF statement, where you can print a copy.
With online services like i-Akaun by KWSP, accessing, downloading, and printing your EPF statement has become hassle-free. Keep your EPF statements updated and readily available, as they are crucial documents for financial planning and applications in Malaysia.