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KUALA LUMPUR: The government has proposed to allow members to withdraw up to RM10,000 from Account 1 of its Employee Provident Fund (EPF), says the Minister of Finance.
Datuk Seri Tengku Zafrul Abdul Aziz said that those who have been affected by the Covid-19 pandemic and have lost their income or are experiencing a reduction in income or business are now eligible to withdraw money from their Account 1 under facility i -Sinar.
He said that many MPs and the rakyat have been urging the government to allow people to withdraw from their Account 1.
“After speaking with EPF management this morning, I would like to announce that the i-Sinar facility will now be open to all members whose income has been affected due to the pandemic.
“It doesn’t matter if the member is an active contributor or not, as long as they can show that they are affected by the pandemic, then they qualify to withdraw money from their Account 1,” said Zafrul, who was met with blows. on the table by the deputies.
In his 2021 Budget closing speech at the Dewan Rakyat on Thursday (Nov 26), Zafrul also said that currently, EPF members can only withdraw RM9,000.
“They just need to apply online or go to an EPF office to show proof that they have lost their jobs, had their assignments or overtime claims reduced or stopped, or that their business is not doing well,” he said.
He added that eight million EPF members can now qualify for this proposed initiative.
The government also announced a one-time payment of RM300 to all members of the front line, including members of the police, Immigration, Rela, and those recognized by the National Disaster Management Agency (Nadma).
The one-time RM 50 vouchers for e-wallets will be increased to RM 100 and benefit 1.1 million students in public and private higher education institutions, including those over 20 years of age.
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