EPF lowers withdrawal sum for millionaires

KUALA LUMPUR: The Employees’ Provident Fund (EPF) has reduced the minimum withdrawal quantum for accounts in excess of RM1mil from RM100,000 to RM50,000.

“Members having at least RM1.05 million in their accounts are eligible to withdraw RM50,000 and above once every three months subject to there being sufficient savings,” EPF public relations general manager Nik Affendi Jaafar said in a statement yesterday.