Divorced women who do not want their ex-husbands to get their Employees Provident Fund (EPF) money should remember to take their names off the list of beneficiaries.
??ven though he is your ex-husband, he can claim the money,?? said Deputy Finance Minister Datuk Dr Ng Yen Yen at the launch of Nanyang Single Again Women’s Legal Advisory Tele-coaching Helpline yesterday.
??eople forget that they have to name their beneficiary for the EPF.
??he beneficiary list in EPF supersedes that in a will,?? she added.
Wait a minute… That’s a bit too feminist isn’t it? I totally agree with what the Doc says about updating the beneficiary list especially after a change of marital status, but from a personal finance point of view, shouldn’t all men also be adviced to take the names of their ex-wives too?
Another important advice from her statement, the beneficiary list in EPF SUPERSEDES that in the will you wrote (if you have any).
What a one-sided advice…
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