EPF fine-tuning account 1 withdrawal facility


The Employees Provident Fund (EPF) is in the midst of refining and improving the targeted Account 1 withdrawal facility as announced in Budget 2021 on Friday.

“All views and feedback from various stakeholders are being carefully considered,” the retirement fund said in a statement today.

The EPF said the targeted withdrawal facility should be made based on a detailed study to balance the needs of members to address current challenges while ensuring their retirement savings for future well-being.

“The details and requirements of the withdrawal facility will be announced once it is finalised,” it said.