Kwsp Account 2 Withdrawal
Each member will be permitted to withdraw from a minimum of rm50 to a maximum of rm500 per month and the scheme will be available from april 2020 to 31 march 2021 12 months.
Kwsp account 2 withdrawal. You have the option to withdraw epf savings at age 50 or 55 either partially or fully or at age 60 when you can then withdraw any amount at any time. Employees provident fund epf contributors can start applying for the i lestari withdrawal from their account 2 starting today. Epf i lestari account 2 withdrawal facility.
The facility will allow members to take out funds only from account 2. Upon a person becoming disable or in the event of death. To facilitate epf members in preparing for a comfortable retirement the epf allows you to make a partial or full withdrawal from your savings to meet the specific retirement related needs that are in line with the epf s current policies.
This is only applicable to epf members aged below 55 years old. Details on malaysia s epf kwsp account 1 vs account 2 withdrawals. Facility is effective for a maximum period of 12 months.
Additional forms documents required. A maximum withdrawal of rm500 per month. The 15 different categories of withdrawals have been divided into account 1 only account 2 only both accounts withdrawals.
Epf allows full withdrawal of akaun 1 and akaun 2 under certain conditions. For epf members that are interested to withdraw you can apply to start from 1st april 2020. There are also different withdrawal rights according to the various epf accounts akaun 1 and akaun 2.
The i lestari facility will allow you to withdraw from account 2 which accounts for 30 of your total epf account. Epf members may apply for the i lestari account 2 withdrawal scheme beginning april 1 2020. They can expect their savings to be deposited into their bank accounts from may 1 2020.
Unlike the epf member contribution rate reduction to 7 the withdrawal facility is not offered automatically and you will have to apply for it. When a person migrate to another country. I lestari is available for malaysian citizens permanent residents and non malaysians aged 55 and below that has an epf account.
Savings to be deposited in members bank accounts starting may 2020. Eligible members can withdraw up to rm500 month from account 2 for a period of 12 months. This is the most common form of epf withdrawal.
Information is for general reference only is an unofficial summary based on epf s official website. Starting 1 april 2020 for email and post.
