Friday, February 12, 2021

EPF’s i-Sinar to allow those under 55 to withdraw from balance

The amount withdrawn will be subject to the account balance.

Other News

New Year hopes shine through poverty and hardship for family on the breadline

Their elderly parents are wheelchair-bound and they themselves have special needs, but Mei Ching and her brother are glad to be celebrating Chinese New Year as a family nonetheless.

Harapan tahun baru tetap bersinar buat keluarga miskin di Sarawak

Biarpun kedua-dua ibu bapa berkerusi roda, Mei Ching dan adiknya tetap gembira menyambut Tahun Baru Cina bersama keluarga.

New Year brings new hope for hard-up family in Ampang

Work will soon start on Chin Kim Choy's home, which will be torn down and rebuilt into a more secure structure.

Reunited under the shadow of Covid-19

While many aspects of Chinese New Year will be different or entirely missing under the movement control order this year, families such as that of Fong Teck Keong in Kampung Baru Ampang will still gather for reunion dinners under strict health SOPs.

Graduan ijazah lalui masa sukar dengan gaji RM1,000 sebulan

Duit tidak pernah cukup, tetapi asalkan dia dan keluarganya sihat dan selamat, ia sudah memadai.

The Employees Provident Fund (EPF) is in the process of lifting several conditions for the i-Sinar withdrawal facility, which among others will allow contributors under the age of 55 to withdraw from their Account 1 funds.

However, the amount withdrawn will be subject to the account balance.

Those with RM100,000 and below will be allowed to withdraw up to RM10,000, to be paid over a period of six months with the first payment amount of up to RM5,000.

Those with more than RM100,000 can withdraw up to 10% of their Account 1 savings, capped at RM60,000, to be paid over six months with the first payment amount of up to RM10,000.

Finance Minister Tengku Zafrul Aziz however said the change in the process would take some time to implement.

“The fund will announce further details soon and the government appreciates members’ patience and understanding while these changes are being made,” Zafrul said.

Under the i-Sinar initiative, EPF contributors have access to up to 10% of their savings in Account 1 as long as they have a minimum balance of RM100.

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