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KUCHING, March 29: Employees Provident Fund (EPF) contributors can start applying for a special withdrawal of RM10,000 from their EPF savings starting April 1 until 30, with payouts beginning from April 20.
According to a statement from EPF today, applications can be made via the mobile application i-Akaun or the website at pengeluarankhas.kwsp.gov.my.
“The applied amount will be credited directly to contributors’ current or savings bank accounts.
“Contributors are urged to ensure that their bank accounts are active and registered under their names,” it said.
The statement also said joint accounts or business registered accounts are not allowed, and contributors could check the status of their applications from April 9 through the same portal.
The EPF advised contributors to check their EPF savings balances before applying for withdrawal via i-Akaun (Member), i-Akaun mobile application, or the EPF Kiosk.
It reminded contributors that the maximum amount allowed for withdrawal under the special withdrawal facility is RM10,000, with a minimum transaction amount of RM50. They must use their savings balance in Account 2 before accessing Account 1. Contributors must also maintain a minimum balance of RM100 in their accounts.
Before this, the EPF stated that the new special withdrawal of RM10,000 announced by the government on March 16 to assist Malaysians under the age of 55 in dealing with the effects of the Covid-19 pandemic should be the last such withdrawal permitted.
It had reiterated its concerns about Malaysians’ retirement security, citing that many have insufficient funds.
Since the Covid-19 pandemic two years ago, the government has allowed the withdrawal of EPF contributions totalling RM101 billion involving 7.34 million contributors through three schemes: i-Lestari, i-Sinar, and i-Citra. — DayakDaily