What occurs to an employee's EPF account when they change jobs?

When an employee changes jobs, their Employee Provident Fund (EPF) account remains active and can be transferred to the new employer's EPF scheme. This ensures that the employee's retirement savings continue to grow without interruption. Transferring the EPF account consolidates their contributions over time, which benefits them in terms of compounded interest on their savings for retirement.

Maintaining the same EPF account also simplifies the management of retirement funds since the employee does not have to keep track of multiple accounts. This process encourages employees to stay engaged with their retirement planning as they move through different stages of their career.

In contrast, the other choices do not accurately reflect the policy regarding EPF accounts. Closing the account or converting it to a savings account does not align with the goal of preserving retirement savings, and creating an entirely new account would lead to the fragmentation of retirement savings, which is generally discouraged in EPF management.