Starting from 30th April 2020, all eligible Employee Provident Fund (EPF) members investing under the Members Investment Scheme (MIS) will be entitled to a reduction in upfront fees charged by fund management institutions (FMIs) for a year
Details as below :-
- Effective date from April 30, 2020 till April 30, 2021
- Upfront fee reduced to from maximum 3% to 1.5%
- No upfront will be imposed on investments transacted through i-invest via EPF’s i-Akaun.
- Service fee will be reduced from 0.125% to 0.0625% based on asset under management (AUM) managed by FMI
- For members aged 55 and above, service fee charged reduced from 0.250% to 0.125% per withdrawal amount
- Take note that the fee reduction only applicable for investments made under the MIS only.
