EPF members can make withdrawals of any amount from next January

Posted on: 2017-12-14


KUALA LUMPUR: The Employees Provident Fund (EPF) has "enhanced and simplified" its policies to enable members aged 55 and 60 to make partial withdrawals of any amount at any time beginning next January.

This is opposed to the withdrawal policies that allows members to withdraw a minimum of RM2,000 once every 30 days.

Members who choose to make monthly withdrawals will also be able to withdraw from as low as RM100 per month, a reduction from RM250 currently.

EPF chief executive officer Datuk Shahril Ridza Ridzuan said the improvements were made based on the feedback from members.

"Our members have asked for more flexibility in terms of withdrawals so we are just addressing those requirements," he said at a press conference on Thursday (Dec 14).

Shahril also announced that members would have the option to appoint Amanah Raya Berhad as the nominee or administrator trustee for their EPF savings.

This, he said, would enable faster and equitable distribution of their savings to the next-of-kin, upon the death of members.


Share:

Source From: The Star

Other News & Articles


Tips Ini Untuk Anda Yang Serious Mahu Beli Rumah!

Tips ini sangat berguna untuk anda yang on the way nak beli rumah menggunakan pinjaman daripada bank....

Posted on: 2019-02-28

Is it necessary to relax home loan criteria for first-time home buyers? Here are 4 alternatives

In a bid to assist Malaysians with homeownership, there has been talk of reviewing stringent housing loan requirements imposed by banks. HBA cautions against this move and shares a few other recommendations. ...

Posted on: 2019-02-28

Buying Property In Malaysia As A Foreigner

Foreigners in Malaysia are either expatriates or tourists, and thus have been received with warm welcomes when visiting our country. Now the Government is also encouraging these foreigners to choose to make Malaysia their second home, whether for long-ter...

Posted on: 2019-02-28