KUALA LUMPUR (March 31): The Employees Provident Fund (EPF) said 234 unit trust funds are qualified to be offered under its Members Investment Scheme (MIS) for the next one-year period starting April 1, compared to 217 during the one year ending today.

They include 113 equity funds, 54 balanced/mixed assets funds, 36 bond funds, 30 money market funds and one property trust fund.

In a statement today, the EPF said the list of funds offered under the MIS is evaluated annually based on the criteria established by the EPF and approved by the finance ministry.

The MIS allows members to transfer part of their savings from their EPF Account 1 for investments as an option to enhance their retirement savings.

Under the scheme, members may transfer not more than 20% every three months from the savings in excess of the Basic Savings amount in Account 1 through the appointed fund management institutions.

The Basic Savings is a pre-determined amount set according to age in Account 1 to ensure members have at least RM196,800 upon reaching age 55, and its quantum was benchmarked against the minimum pension of RM820 per month for 20 years from 55 to 75 years old.

"Members are reminded that the investment under the EPF MIS is voluntary and [they need to] take full responsibility [for] their decision to invest based on the objectives and risks profile that suit them.

"Members are encouraged to seek advice from qualified financial advisers before deciding to participate in the scheme," said EPF deputy chief executive officer (Investment) Datuk Mohamad Nasir Ab Latif.

"Even though the EPF approved these unit trust funds, it does not mean we are making any recommendations or suggestions for members on any of the unit trust funds," he added.

The EPF, however, provides a Fund Information Portal which can be accessed for free via i-Akaun.

The portal provides information on unit trust funds offered under the scheme as well as institutions which are managing the unit trust funds.

This is to enable EPF members to conduct their own research to assist them to make informed investment decision.