The Employees Provident Fund (EPF) today announced that as of May 22, a total of 2.86 million applications for the initial amount transfer were received and transferred from the Sejahtera Account to the Flexible Account, involving a total amount of RM8.78 billion. According to the EPF Corporate Affairs Media Desk, the option was opened to members on May 12.
Meanwhile, a total of 3.04 million applications for Flexible Account Withdrawals were approved, involving a total amount of RM5.52 billion.
EPF Chief Operations Officer Sazaliza Zainuddin said EPF expects the number of applications for the initial amount transfer from their Sejahtera Account to the Flexible Account to continue to increase until the closing date on August 31, 2024.
“We are also pleased to see a significant increase in applications through the EPF i-Akaun mobile application. This reflects our efforts to enhance user experience and accessibility, as we continue to innovate and expand our digital offerings,” he said.
From May 12 to August 31, 2024, members are given the option to transfer one-third of their savings balance from the Sejahtera Account to the Flexible Account.
The initial amount transfer to the Flexible Account is subject to the balance in the member’s Sejahtera Account on the application date. Withdrawals from the Flexible Account can be made at any time for any purpose with a minimum withdrawal of RM50.
Since the closing date for the option to transfer part of the savings from the Sejahtera Account to the Flexible Account is on August 31, 2024, members are advised not to rush to make transfers.
Members who have not yet registered with EPF i-Akaun are encouraged to do so to enable withdrawals from the Flexible Account.
