KUALA LUMPUR: The Employees Provident Fund (EPF) today announced that as at May 22, 2024, a total of 2.86 million applications to transfer the initial amount from Akaun Sejahtera to Akaun Fleksibel were received, involving an amount of RM8.78 billion.
The option was opened to members on May 12, 2024.
A total of 3.04 million withdrawal applications from Akaun Fleksibel were also approved amounting to RM5.52 billion.
"The EPF is expecting the number of applications from members choosing to transfer an initial amount from their Akaun Sejahtera to Akaun Fleksibel to continue to rise until the deadline on Aug 31, 2024," EPF chief operating officer Sazaliza Zainuddin said.
"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," he added.
From May 12, 2024 until Aug 31, 2024, EPF members will have a one-time option to transfer one-third of their savings balance from Akaun Sejahtera to Akaun Fleksibel.
The transfer of the initial amount to Akaun Fleksibel is based on the balance in the member's Akaun Sejahtera
on the application date.
Withdrawals from Akaun Fleksibel can be made at any time for any purpose, with a minimum withdrawal of RM50.
Members who have yet to register with the KWSP i-Akaun are encouraged to do so to enable withdrawal transactions from Akaun Fleksibel.
Members are advised to register or update their mobile phone number via the Self-Service Terminal available at any EPF branch for the purpose of receiving a Transaction Authorisation Code (TAC) to verify their identity when conducting transactions.