EPF’s Akaun Fleksibel gets RM8.78bil in transfer requests

KUALA LUMPUR: A total of 2.86 million applications to transfer the initial amount from Akaun Sejahtera to Akaun Fleksibel had been received as of May 22, involving an amount of RM8.78bil, says the Employees Provident Fund (EPF).

The option was opened to members on May 12.

Meanwhile, a total of 3.04 million withdrawal applications from Akaun Fleksibel were approved, amounting to RM5.52bil.

“EPF is expecting the number of applications to rise until the deadline on Aug 31,” said its chief operating officer Sazaliza Zainuddin.

“We are also pleased to see the significant increase in applications via the KWSP i-Akaun mobile app,” he said in a statement, Bernama reported.

From May 12 to Aug 31, members will have the option of transferring one-third of their savings balance from Akaun Sejahtera to Akaun Fleksibel.

The transfer of the initial amount to Akaun Fleksibel is based on the balance in the member’s Akaun Sejahtera on the application date.

Withdrawals from Akaun Fleksibel can be made at any time for any purpose, with a minimum withdrawal of RM50.

As the closing date for the option to transfer part of their savings in Akaun Sejahtera to Akaun Fleksibel is on Aug 31, members are advised not to rush into making the transfer.

Those who have yet to register with the KWSP i-Akaun are encouraged to do so to enable withdrawals from Akaun Fleksibel.

For information on the EPF account restructuring and details on the option to transfer an initial amount, visit the EPF website at www.kwsp.gov.my or call its contact management centre at 03-8922 6000.