EPF to introduce i-Citra to ease members' financial burden - PM

KUALA LUMPUR: Prime Minister Tan Sri Muhyiddin Yassin has announced that the Employees Provident Fund (EPF) will introduce i-Citra, a new facility aimed at easing the financial burden of the fund's members due to the impact of the Movement Control Order (MCO).

Through i-Citra, 12.6 million EPF members will be able to withdraw up to RM5,000 with a fixed payment rate of RM1,000 a month for five months, subject to the balance in their respective accounts.

"The i-Citra can channel RM30 billion to the rakyat for their daily needs.

"Members can make this EPF withdrawal through the fund's portal at icitra.kwsp.gov.my beginning July 15, 2021, and the payment will be banked into members' bank accounts in August 2021," Muhyiddin said in a televised address today when announcing the National People's Well-Being and Economic Recovery Package (PEMULIH).

Muhyiddin said launching i-Citra was a difficult decision to make as the government understood that the people's retirement savings are being used.

He said i-Citra was a middle path that the government took in balancing between the people's needs and an appropriate financial return for the fund's members who do not need to make any withdrawals.

-- BERNAMA