The Employees Provident Fund (EPF) reported that as of May 22, 2024, it had received 2.86 million applications to transfer funds from Akaun Sejahtera to Akaun Fleksibel (Account 3), totaling RM8.78 billion since the option became available on May 12, 2024.
Additionally, 3.04 million withdrawal applications from Account 3, amounting to RM5.52 billion, have been approved.
EPF Chief Operating Officer, Sazaliza Zainuddin, expressed optimism regarding the rising number of transfer applications, which are expected to increase until the deadline on August 31, 2024.
He highlighted the significant uptake in applications via the KWSP i-Akaun mobile app, attributing this to the EPF’s ongoing efforts to enhance user experience and digital accessibility.
We are also pleased to see the significant increase in applications via the KWSP i-Akaun mobile app. This reflects our efforts to enhance user experience and accessibility, as we continue to innovate and expand our digital offerings.”
From May 12, 2024, to August 31, 2024, EPF members can transfer one-third of their savings from Akaun Sejahtera to Akaun Fleksibel.
The transfer amount is based on the balance in Akaun Sejahtera on the application date. Withdrawals from Account 3 can be made anytime for any purpose, with a minimum withdrawal of RM50.
Read also: Here’s What Going To Happen To Your EPF Account Starting 11 May 2024
Members are advised to avoid rushing their transfers and to register with KWSP i-Akaun to facilitate withdrawal transactions from Akaun Fleksibel.
For transaction verification, members should update their mobile numbers via the Self-Service Terminal (SST) at any EPF branch to receive a Transaction Authorisation Code (TAC).
For more information on EPF Account Restructuring and the transfer option, visit the EPF website at www.kwsp.gov.my or call the EPF Contact Management Centre at 03-8922 6000.
