EPF: Application for RM10,000 special withdrawal starts from April 1, 2022

KUALA LUMPUR: Applications for a special RM10,000 withdrawal facility from the Employees Provident Fund (EPF) is open to members below age 55 starting April 1, 2022.

"The deadline for application is April 30, 2022 while payment starts on April 20, 2022," the EPF said in a statement today.

Members are allowed to withdraw a maximum amount of RM10,000 and a minimum of RM50 and must fully utilise their savings balance in Account 2 before they can access their savings from Account 1.

"Further details will be updated soon," the retirement fund said.

In a special media conference today, Prime Minister Datuk Seri Ismail Sabri Yaakob said the government is allowing the special EPF withdrawal facility to ease the burden of Keluarga Malaysia still affected by the COVID-19 pandemic.

The government had previously allowed three withdrawal facilities, namely i-Lestari, i-Sinar, and i-Citra, which collectively amounted to RM101 billion involving 7.34 million contributors since the pandemic two years ago.

The three special facilities were pre-retirement withdrawals introduced as temporary measures to help members impacted by movement control order as a result of the pandemic.

-- BERNAMA