Oct 17, 2024
EPF and Superannuation are two retirement benefits available to employees. Here's a comparison of their features and benefits:
Features: EPF is a mandatory contribution scheme, while Superannuation is a voluntary contribution scheme. EPF contributions are made by both the employee and employer, while Superannuation contributions are made by the employer only.
Benefits: EPF provides a fixed interest rate declared by the government, while Superannuation provides market-linked returns. EPF provides a lump sum amount at the time of retirement, while Superannuation provides a pension. EPF provides a life insurance cover, while Superannuation does not.
By comparing the features and benefits of EPF and Superannuation, employees can choose the option that suits their retirement planning goals.