The Employees Provident Fund (EPF) says that members who wish to withdraw their EPF savings under the Special Withdrawal facility can do so through the pengeluarankhas.kwsp.gov.my portal, which can also be accessed via the i-Akaun mobile application starting 1 April 2022.
In a statement released on 16 March 2022, the EPF announced that application for the withdrawal facility would be open to members below age 55 starting 1 April 2022 and ending on 30 April 2022, while payment will be made beginning 20 April 2022.
Read more: EPF withdrawal only for members below age 55, payment from April 20
A single payment of the amount applied will be credited directly into the members’ respective current or savings bank accounts.
Members are urged to ensure that their bank accounts are active and registered under their own names. Shared bank accounts or business registered accounts are not allowed. Members can check their application status starting April 9, 2022 via the pengeluarankhas.kwsp.gov.my.
Before applying for withdrawal, members are advised to check their EPF savings balance via i-Akaun (Member), i-Akaun mobile application, or EPF Kiosk. The maximum amount allowed for withdrawal under the special withdrawal facility is RM10,000, with a minimum transaction amount of RM50, and members must fully utilise their savings balance in Account 2 first before accessing their Account 1. Members must also leave a minimum RM100 in their account.
Read more: Latest EPF withdrawal, at what cost?
The Special Withdrawal is aimed to assist members who remain financially impacted by the pandemic to meet today’s urgent needs. The EPF reminds members to consider their long-term income security, and only withdraw their savings if it is absolutely necessary. Members may consult the EPF’s Member Advisory Service at EPF branches throughout the country for advice on their EPF savings.
Further details on the special withdrawal facility can be obtained via ‘Ask ELYA’ in the EPF website at www.kwsp.gov.my, EPF Facebook, Twitter and Instagram, or contact the Special Withdrawal Facility hotline at 03-8922 4848 starting 1 April 2022.
