When will EPF officially launch Account 3 and its withdrawal system?

Question

Accepted Answer

EPF Account 3 and Withdrawal System to be Launched in April

The Employees' Provident Fund (EPF) is slated to officially announce its new flexible Account 3 initiative, along with its associated withdrawal mechanism and flexibility features, in April. This announcement will follow the EPF's dividend distribution announcement scheduled for this Sunday.
Account 3 Announcement Timeline

The flexible Account 3 initiative is expected to be formally unveiled by the EPF in April. This timeline was confirmed by Finance Minister II Datuk Seri Amir Hamzah Azizan. The details regarding how contributors can access funds from this new account will be made public shortly after the dividend distribution announcement, which is set to take place this coming Sunday.
Details on Withdrawal and Division Mechanism

Following the dividend announcement, the EPF will provide a comprehensive explanation of Account 3 to its contributors. This explanation will specifically address the methods and procedures for withdrawing funds from the new account. Furthermore, the mechanism by which the funds are divided within Account 3 will also be clarified for contributors.
No Targeted Withdrawals Planned

The government has indicated that it is not considering any form of targeted withdrawals for Account 3. This approach is intended to provide contributors with flexibility. The rationale behind this decision is to avoid exacerbating the existing issue of insufficient retirement savings among the populace, with the new flexible account aiming to offer a different approach.

Reading history

Hide →

This history is cleared when the page is closed.

When will EPF officially launch Account 3 and its withdrawal system?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends