When it comes to effective financial planning, retirement savings is a core component – and events in recent years have revealed that while many people believe saving for retirement is important, many are actually not ready for it.

Traditionally, full-time employees in the private and non-pensionable public sectors are required to contribute to their retirement savings through the Employees Provident Fund (EPF). Because EPF savings have very strict withdrawal requirements, the expectation is that when members reach retirement age, their EPF savings will be sufficient to cover their golden years.

While this is a tried and trusted method, some members have preferences for a more active approach to their retirement savings. As such in 2019, EPF i-Invest was launched to allow eligible EPF members to invest using part of their EPF savings in unit trust funds by EPF-approved Fund Management Institutions (FMIs) remotely at their fingertips.

Navigating The i-Invest Platform: A Comprehensive Walk-through

The EPF i-Invest platform is available on the EPF website as well as the i-Akaun app. The platform is packed full of features, including:

Suitability Assessment

The onboarding process for EPF i-Invest starts with a comprehensive suitability assessment, which identifies your investment risk tolerance. This crucial step ensures informed decision-making in your investment endeavours.

Information Hub

Access, analyse, and compare vital information on Fund Management Institutions (FMI) and approved unit trust funds and portfolios. Dive into cost analysis, historical performance, and statutory information for an empowered investment choice.

Functionality and Performance Dashboard

View consolidated investment holdings with detailed breakdowns, enabling a comprehensive understanding of your portfolio’s performance across various FMIs.

Purchase Multiple Funds with Ease

With EPF i-Invest, embrace the convenience of purchasing up to 8 unit trust funds from 5 FMIs in a single transaction, streamlining your investment process.

What are the Advantages of EPF i-Invest?

EPF i-Invest’s advantages are compelling for those looking to diversify their retirement savings and those who seek investment options with different risk profiles from the EPF’s investment mandate. And, as an added incentive, investing using EPF i-Invest significantly reduces initial sales charges, which are capped at 0.5%, a considerable amount of savings compared to the sales charges and other fees imposed that can go as high as 5%.

Aside from unit trust funds, members can also opt for other investment options, such as private mandate portfolios. A private mandate portfolio is managed by a professional asset manager or company, taking into account the individual investor’s returns requirements and risk tolerance.

The EPF has further bolstered its private mandate portfolio offerings in 2023, offering more features such as:

• Detailed Breakdown for Portfolio Holdings: Now, private mandate portfolio holdings are transparently displayed, providing comprehensive insights into the portfolio’s composition. Previously, portfolios were grouped by types (ie: discretionary, semi-discretionary, and full discretionary) and would display all portfolios as one holding grouped within the category.
  
• Transactions for Portfolios: Users can now transact in private mandate portfolios directly via i-Invest.
  
• Portfolio Information Page: Each private mandate portfolio is now accompanied by an information page with a breakdown of holdings.
  
• ESG Tagging: Information pages for unit trust funds and private mandate portfolios now feature an environmental, social, and governance (ESG) tag.

Ready To Diversify Your Retirement Savings?

If you’ve always wanted to play a more active role in investing your EPF savings, do take a closer look at EPF i-Invest. Download the i-Akaun mobile app on the Apple App Store or Google Play today and embark on a journey to diversify and manage your retirement investments your way.

• TAGS:
• EPF
• EPF i-Akaun
• EPF i-Invest
• i-Invest
• KWSP
• Principal EPF i-Invest