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FSM Beneficiary Account

Slayer_MY 03-07-2012, 11:47:28 PM GMT

Joined Since: 06-11-2009
Nationality: Malaysia
Posts: 41 times

Under the FAQ section it is said,

You can open one personal account and up to three beneficiary accounts. Do take note that you are still the primary operator and owner of all the accounts. The beneficiaries do not have rights over this account as long as you are living. When you transact under the beneficiary accounts, you can only use cash investment and not your savings in EPF Account 1.

My question is, cash redemptions from a beneficiary account are to be paid to the beneficiary, the account operator/owner, or either one can be specified during redemption?

Please advise.

Thanks in advance!

last edited at 03-07-2012, 11:48:01 PM GMT
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FSM Team_MY  (Administrator) 04-07-2012, 03:05:07 AM GMT

Joined Since: 30-03-2012
Nationality: NA
Posts: 107 times

Hi Slayer,

Please be informed that the cheque will be issued under main account holder name only.


last edited at 04-07-2012, 03:06:32 AM GMT
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