EPF withdrawal only for members below age 55, payment from April 20

Read more: Govt agrees to RM10,000 EPF withdrawal: PM

The Employees Provident Fund (EPF) announces that the application for the special withdrawal facility of RM10,000 will be opened to members below age 55 starting 1 April 2022 and ending on 30 April 2022, while payment will start on 20 April 2022.

Read more: Latest EPF withdrawal, at what cost?

“Members are allowed to withdraw a maximum amount of RM10,000 and minimum RM50, and must fully utilise their savings balance in Account 2 first before accessing their Account 1,” it said.

Further details will be updated soon, the fund added.

Earlier EPF said the latest special withdrawal initiative should be the last, noting that it will be the fourth withdrawal after i-Lestari and i-Sinar in 2020 and i-Citra in July 2021.

As of end 2021, a total of RM101 billion had been withdrawn under the first three facilities, it said.

Earlier today, the government has agreed to allow special Employees Provident Fund (EPF) withdrawal of RM10,000, says Prime Minister Datuk Seri Ismail Sabri Yaakob.

In a special press conference today, he said this is a “difficult decision” to be made as it involves people’s retirement saving versus the current urgent need of the people. —by AZREEN HANI/TMR FILE PIX