Employee Provident Fund (EPF) members who have yet to apply for the i-Lestari Withdrawal Scheme but wish to do so can now make their applications more conveniently through the new i-Lestari Online portal. The portal is dedicated solely to facilitating i-Lestari withdrawals, and offers a simpler application process as you will not need to print any forms or visit any EPF branches.
Here’s a step-by-step application process for the RM500 monthly withdrawal scheme using the i-Lestari Online portal:
1. Select “Permohonan Baru”, and fill in the mandatory personal details: your name, MyKad number, mobile number, email address, as well as home address.
2. Select an amount that you wish to withdraw each month. You are allowed to choose between RM50 to RM500.
3. Select the bank that you want the money to be credited into, and fill in your bank account number.
4. Agree to the terms and conditions, and submit your application. And you’re set!
According to the EPF, you can then come back to the same site two days after the submission of your application to check on its status. To do that, just key in your MyKad number, mobile number, and click on “Semak”. EPF will also send a confirmation SMS to your registered mobile number once the withdrawal has been credited.
Prior to this, EPF members who wanted to apply for the scheme could do so via three channels: online, email, and post. However, online applications were limited only to those who have activated their i-Akaun accounts, whereas email and postal applications will take a longer time to process. EPF subsequently allowed its members to register for their i-Akaun via email, but this required the submission of various documents.
“We quickly realised after we launched i-Lestari in early April that the process for applications was quite complicated and caused a lot of confusion. On top of that, many of our members had not yet set up their i-Akaun through which i-Lestari was being mainly processed, and this made the application process even more difficult,” said the chief executive officer of EPF, Alizakri Alias, explaining the rationale behind the i-Lestari Online portal.
As of 13 April 2020, EPF has received more than 1.4 million applications for the scheme. So far, over 700,000 applications have been approved, and disbursements will begin on 4 May 2020. EPF members can apply for the i-Lestari Withdrawal Scheme until 31 March 2021.