EPF today said it will allow immediate registration to Simpanan Shariah for new members from April 1, allowing them to select it as their preferred account type during self-registration.

In a statement, it also announced monthly activation for its members who opt in for Simpanan Shariah.

It said the effective date for Simpanan Shariah for existing EPF members will be the first day of the following month, subject to a seven-day grace period.

Previously, changes to Simpanan Shariah only took effect on Jan 1 of the following year.

“This update minimises waiting periods from yearly to monthly, ensuring members’ investments are shariah-compliant from early on,” said EPF.

“This enhancement provides members with greater control and flexibility, making it easier to manage their retirement savings in line with their financial and shariah-compliant savings option preferences,” it said.