BUTTERWORTH: Despite having little in Account 2 (Akaun Sejahtera) of their Employees Provident Fund (EPF), many contributors transferred the sum into the new Account 3 (Akaun Fleksibel) to facilitate withdrawals later, if needed.
The Star interviewed several EPF contributors in the long queue from as early as 7am at Seberang Jaya’s EPF office of people wanting to transfer money into their Account 3.
Security guard Mohd Hanif Sanorizan, 38, went with his wife and son at 7.30am to update his bank account number so that the money from his EPF Account 3 can be transferred to him.
“When I applied online, I received instructions to come to the nearest EPF branch office to update my bank account number,” he said when met at the EPF Seberang Jaya office.
He said he was only allowed to transfer about RM900 to his Account 3, based on the balance on his Account 2.
He said he decided to transfer the money so that he can use it for his daily expenses.
Factory worker Tan Swee Moh, 39, was glad to have his application approved yesterday.
“The application was smooth and the staff at the Seberang Jaya EPF branch office was helpful,” he said.
Tan, who has a permanent disability condition, said he could only transfer about RM1,000 into his Account 3.
He said that he had withdrawn several thousand ringgit before, as allowed during the Covid-19 pandemic.
Tan is single and said he would use the money for daily expenses for his ageing mother and himself.
“It is little but it can help us both especially during this time when almost everything is expensive,” he said.
S. Ambika, 39, who lives in Seberang Jaya, said she was now in the process of getting a mishap pension scheme from the Social Security Organisation (Socso) after an accident at her workplace a few months ago.
“I need the money while waiting for my Socso application to be approved, so the EPF Account 3 will really help me and my family now,” said the mother of one who only has about RM3,000 in her Account 2, yet decided to transfer whatever was allowed into her new Account 3 for her to withdraw (which amounts to RM1,000).
Mechanic Shake Mohamad Luqman Shake Mohd Yusof, 22, said he had never withdrawn money from his EPF since he started working four years ago.
“When the government announced the new Account 3, I decided to utilise it and use the money for my small business start-up,” he said.
Shake Mohamad Luqman said he could not depend on his income as a mechanic. He had no choice but to start a small business, selling nasi lemak by using what little was available from his EPF Account 3.
