The much debated third account or flexible account of the Employees’ Provident Fund (EPF) will be implemented in April 2024, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.
He said that in February 2024, the dividend for the EPF account will be announced and after that, the Ministry of Finance will announce more detailed methods regarding the flexible account which is also account number three. “The minister has also asked for views on the flexibility of the account which they can write directly to the Ministry of Finance and also the EPF.
Mazlan stated the policy will be implemented but with methods that do not affect the people’s income too much and it can only be issued in times of emergency. The meaning of the emergency will also be detailed later he added.
RM145 billion ringgit was released through four withdrawals during Covid-19 and after that, the government decided there would be no more withdrawals.