RM6.98bil withdrawn from EPF Account 3 to date, says Finance Ministry

KUALA LUMPUR: A total of RM6.98bil has been withdrawn to date from the Employees Provident Fund Account 3 by members below 55, the Dewan Rakyat was told.

It also said that as of June 10, a total of RM10.86bil had been transferred as an initial amount into the flexible account of 3.45 million members.“Members can opt to have the initial amount by transferring a portion of their savings in Account Sejahtera to the Flexible Account from May 12 to Aug 31,” the ministry said in response to Sim Tze Tzin .

“The restructuring of EPF accounts was not seen to significantly affect the financial position of EPF as the fund has reallocated sufficient cash balance to withdrawal demand through the Flexible Account,” the ministry said. "The initiative aims to help increase retirement savings to allow members to have sufficient retirement income.

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