Instead Of Withdrawing Everything, Here’s How To Get Your EPF Monthly

Turning 55 usually comes with one very tempting thought.

Okay, where’s my EPF money?

After decades of working, saving and watching that balance slowly grow, withdrawing everything at once might sound like the obvious move.

But apparently, there is another option.

Instead of taking out one giant lump sum, eligible EPF members can actually arrange for their savings to be paid to them every month.

Basically, retired you can still have payday.

Just without the meetings, emails and “can you do one quick thing?” messages from your boss.

Meet i-Emas

The option is called i-Emas, and it allows eligible EPF members to receive their retirement savings through monthly payments.

While monthly withdrawals are not completely new, EPF officially renamed the existing Monthly Withdrawal option as i-Emas in April 2026.

The concept is simple.

Instead of saying:

Give me everything.

You can basically tell EPF:

Okay, maybe just send me some every month.

The rest stays in your account.

So… is this a pension?

It can feel like one, but technically, no. EPF is not suddenly giving you bonus retirement money.

The monthly payment comes from your own EPF savings.

Say you reach 55 with RM300,000 saved. You could withdraw all RM300,000 at once.

Or you could choose to receive a certain amount every month and leave the remaining savings inside EPF.

EPF also explained that savings remaining in the account can continue earning annual dividends while members receive monthly withdrawals.

So younger you spent decades putting money aside. Retired you gets to enjoy the allowance. Nice teamwork.

You can start with just RM100 a month

You do not need to withdraw thousands every month either.

According to EPF’s Age 55 and Age 60 Withdrawal guidelines, members can choose monthly payments starting from RM100 per month.

That works out to RM1,200 per year.

The arrangement must run for at least 12 months, while how long it lasts after that depends on your selected arrangement and available savings.

Payments are generally credited on the 25th of every month.

If the 25th lands on a weekend or public holiday, the money will come in on the next working day.

So yes. You can retire from work without completely retiring from payday.

Okay, how do I actually set it up?

If you are eligible, the application can be made through KWSP i-Akaun.

Here is the general step by step process:

1. Open the KWSP i-Akaun app and tap Withdrawal.
2. Look for Withdraw Your Savings and select the option to apply for a withdrawal.
3. Choose Age 55. If you are already 60, select the relevant Age 60 option instead.
4. Read through EPF’s application checklist and continue.
5. Choose i-Emas Monthly Payment as your withdrawal option.
6. Read the information provided before proceeding.
7. Enter how much you want to receive every month. The minimum is RM100.
8. Choose how long you want the monthly payments to continue.
9. Enter or confirm the bank account where you want the money credited.
10. Double check the amount, payment period and banking details.
11. Read and accept the withdrawal declaration.
12. Approve the application using i-Akaun Secure.
13. Once submitted, you can check your application status through i-Akaun.

Members can also refer to EPF’s official Easy Guides for the latest application instructions.

The buttons and wording inside i-Akaun may change as the app gets updated, so always follow the latest instructions shown in your account.

And no, you do not have to choose between “all” or “monthly”

This is probably one of the more useful parts.

You are not stuck choosing between withdrawing your entire account or receiving everything slowly.

EPF also allows eligible members to make partial withdrawals.

So theoretically, you could take out some money first for a bigger expense and leave the rest for monthly payments.

Need some money for home repairs? Take a portion.

Still want money coming in every month for groceries and bills? Keep another portion for i-Emas.

You do not necessarily have to empty the whole thing in one go.

What happens to your EPF accounts when you turn 55?

When you reach 55, savings from Akaun Persaraan, Akaun Sejahtera and Akaun Fleksibel are consolidated into Akaun 55.

That is the money you can then access through the available Age 55 withdrawal options.

But if you are still working after turning 55, your new EPF contributions will go into Akaun Emas.

Those newer savings generally become available for withdrawal when you turn 60.

So yes, you can be 55, still working and technically have EPF money that younger retired you cannot touch yet.

Future you says thanks again.

Why would anyone choose monthly payments?

Because getting one giant number in your bank account can be dangerous for one very simple reason.

Suddenly, everything looks affordable.

New car? Can. Holiday? Can. Renovation?Can.

Treat the whole family? Okay lah.

Then five years later, your retirement fund might be looking a little too quiet.

Monthly withdrawals can make retirement spending more predictable, especially for regular expenses such as food, bills, transport and healthcare.

And because the rest of your savings remain inside EPF, they may continue earning annual dividends instead of leaving the account all at once.

Of course, i-Emas is not automatically the best choice for everybody.

Some retirees may need a larger lump sum, have debts to settle, receive other retirement income or simply have a different financial plan.

But at least now you know.

Turning 55 does not mean you need to immediately smash the imaginary “WITHDRAW EVERYTHING” button.

You can technically make your own EPF savings give you payday every month instead.

READ ALSO:

M’sian Worried After Husband’s Nearly RM1mil EPF Falls To RM500k In 3 Months

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