KUALA LUMPUR: The Employees Provident Fund (EPF) has said that as of May 22, a total of 2.86 million applications had been received to transfer the initial amount from Akaun Sejahtera to Akaun Fleksibel, amounting to RM8.78 billion. The option was opened to EPF members on May 12.
Withdrawal Approvals
Employees Provident Fund meanwhile approved a total of 3.04 million withdrawal requests Akaun Fleksibel, amounting to RM5.52 billion.
Rising Applications Expected
“EPF is expecting the number of applications to rise until the deadline on Aug 31,” said its chief operating officer Sazaliza Zainuddin.
“We are also pleased to see the significant increase in applications via the KWSP i-Akaun mobile app,” he said in a statement.
Employees Provident Fund: Transfer Details and Deadlines
Members have the opportunity to transfer one-third of their savings balance from Akaun Sejahtera to Akaun Fleksibel from May 12 to August 31.
The transfer of the initial amount to Akaun Fleksibel is based on the member’s Akaun Sejahtera balance on the date of the application.
Akaun Fleksibel: Withdrawal Flexibility
Members can make withdrawals from Akaun Fleksibel at any time and for any purpose, with a minimum limit of RM50.
Since the deadline for the option to transfer part of your savings from Akaun Sejahtera to Akaun Fleksibel is August 31, members are advised not to rush into making the transfer.
Employees Provident Fund: Registration and Further Information
Those who have not yet registered with KWSP i-Akaun are recommended to do so to enable Akaun Fleksibel withdrawals.
For details on EPF account restructuring and initial balance transfer option, you can visit the EPF website at www.kwsp.gov.my or call the Contact Management Center at 03-8922 6000.
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