EPF To Remove Eligibility Conditions For i-Sinar Withdrawal
Author Avatar

The Employees Provident Fund (EPF) is working towards removing its eligibility conditions for the i-Sinar withdrawal facility. This was confirmed by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.

Currently, EPF members will need to fulfil certain eligibility criteria before they can make i-Sinar applications. You either need to have not contributed to the EPF for at least 2 months or suffered a reduction of your base salary by at least 30% (Category 1); or your total income must have been reduced by at least 30% (Category 2). Category 1 application approvals are automatic with no need for supporting documents, whereas proof of reduction of income is required for Category 2.

The change will see all EPF members below the age of 55 able to make withdrawals from their Akaun 1, subject to their remaining account balance. “Members who have applied for i-Sinar based on the current criteria will have their applications automatically approved shortly,” the finance minister’s statement read.

epf kwsp

(Image: The Edge Markets)

However, the maximum withdrawal amount and the six-month payment schedule announced previously will remain in place with no changes. Members with RM100,000 and below in Akaun 1 can withdraw up to RM10,000 with a first-month payment of up to RM5,000, whereas those with more than RM100,000 can withdraw up to 10% of their savings capped at RM60,000 with a first-month payment up to RM10,000.

According to Datuk Seri Tengku Zafrul, the decision to remove the eligibility conditions was made following the advice of Prime Minister Tan Sri Muhyiddin Yassin to improve the i-Sinar initiative in accordance with public feedback. It is hoped that the removal of the withdrawal conditions will help EPF members with their financial challenges this ongoing pandemic.

(Source: Ministry of Finance)


4.1 31 votes
Article Rating


Comments (2)

Notify of

Inline Feedbacks
View all comments
2 years ago

What about those who are in between 55 and 60 years old, who still has some money in their EPF? No doubt it’s in the Akaun Emas but these age group are still actively working and they are affected too.
Please look into this.
Besides, what’s the difference below 55 or above? Everybody is in dire straits.

Vivienne Wong
2 years ago

Support i-sinar account 1 withdraw for emergency purposes.

Top Personal Finance News Articles
Post Image
Petrol Price Malaysia Live Updates (RON95, RON97 & Diesel)
- 22nd March 2023
We provide weekly updates on every Friday at 5pm on the prices of RON95, RON97 and Diesel in Malaysia and a chart that shows the movement of fuel prices across a 6-week period. Bookmark this page now!
Post Image
Astro 4K Ultra HD Broadcast To Be Available For Subscription By The End of This Year
Brian Chung
- 14th August 2018
By the end of 2018, Astro customers will be able to watch football matches in Ultra HD. Read on to know more about the 4k Ultra HD service.
Post Image
Touch n Go RFID: What Malaysian Road Users Need To Know
Jacie Tan
- 10th August 2018
Everyone’s talking about Touch ’n Go RFID being used at Malaysian highway tolls soon – here’s what you need to know about it.
Post Image
Best High Interest Savings Accounts In Malaysia (January 2023)
Pang Tun Yau
- 11th January 2023
Make your money work for you by depositing them into the best high-interest savings accounts in Malaysia!

Related articles

Related Posts Image
Related Posts Image
Related Posts Image
Related Posts Image