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KWSP Members Can Withdraw RM 500 Per Month for One Year

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KWSP Members Can Withdraw RM 500 Per Month for One Year

Breaking News! The Prime Minister Muhyiddin Yassin has just announced that KSWP (EPF) members to withdraw funds from their EPF account to ease the burden during this period of COVID-19 outbreak.

Source: https://www.kwsp.gov.m

Eligible EPF members will be permitted to withdraw a maximum of RM 500 per month for 12 months from their EPF Account 2, starting 1st April 2020.

This is will be applicable to EPF members aged below 55 years old. This initiative is expected to benefit around 12 million EPF members with an estimated total withdrawal of RM 40 billion.

The prime minister hopes that Malaysians will use this EPF withdrawal wisely to buy the necessities for that there are food on the table. Hence, the money should be spent wisely to pay for water and electricity bulls or for rent.

Eligible EPF members can start withdraw the monthly RM 500 from their EPF Account 2 from 1st April 2020.

Please take note this is your own money so you will be using your retirement funds. Hence, please use it wisely and don’t use the spend on new phones, new handbags or unnecessary items.

For more information on your EPF Account 2, please visit KWSP official website at https://www.kwsp.gov.my/

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