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The 50th Golden Anniversary Of EPF
(1
October 2001)
Click on cover above to
enlarge.
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, it's
membership increased to 9.7 million with annual contributions of
RM20.97 billions.
During the early years, the EPF provided coverage
only for certain categories of workers. Then in 1970, the EPF
expended its role to cover almost all workers.
EPF members are allowed to withdraw their savings
for retirement purposes at the age of 55 and prior to that age, they
are allowed to withdraw part of their savings upon reaching 50 years
of age, for housing, healthcare and other purposes.
EPF is administered by a Board of Directors. The
fund's headquarters is located at the EPF Building in Kuala Lumpur.
The Fund has 14 State Offices and 48 branches throughout the
country.
Technical Details
| Date of Issue |
1 October 2001 |
| Denomination |
30 sen, 50 sen,
RM1.00 |
| Stamp Size |
38mm X 28mm |
| Perforation |
13 1/2 |
| Sheet Content |
25 stamps |
| Paper |
SPM Watermarked,
Phosphor Coated |
| Printing Process |
Lithography |
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Source :
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