Over 4.11 million Employees Provident Fund (EPF) members, or 31.1% of those under 55, have applied to withdraw from their Account 3 (Flexible Account), with total withdrawals reaching RM12.07 billion as of Dec 31, 2024.
Increase in withdrawal figures
According to Deputy Finance Minister II Datuk Seri Amir Hamzah, EPF’s Account 3 total balance stood at RM7.73 billion by the end of 2024.
The latest figures show an increase compared to Sept 30, 2024, when:
- 3.86 million members (29.4%) withdrew from Account 3
- Total withdrawals amounted to RM10.78 billion
Both the number of applicants and the total withdrawal amount have risen over the months.
How to withdraw from EPF Account 3
Members can withdraw their savings through the KWSP i-Akaun app by following these steps:
- Log in to KWSP i-Akaun
- Select Withdrawal
- Click Withdraw your savings
- Choose Akaun Fleksibel
- Click Withdraw Savings
- Enter the withdrawal amount and tap Continue
- Add a new bank account and input banking details
- Verify the withdrawal process
- Submission completed – funds will be credited within 7 working days
