KUALA LUMPUR, April 25 — The Employees' Provident Fund (EPF) announced today a restructuring of its contributors accounts that would allow those opting in to withdraw from a...
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Under the restructuring, all contributors will have three accounts but withdrawal from the third account or 'flexible account' will be optional. — Picture by Miera ZulyanaKUALA LUMPUR, April 25 — The Employees' Provident Fund announced today a restructuring of its contributors accounts that would allow those opting in to withdraw from a new Account 3 starting May 11, in a much anticipated move that is both welcomed and criticised.
This means up to 10 per cent of total savings will be front-loaded for those opting in, with withdrawal allowed starting May 11. No limit will be imposed for withdrawal but it cannot be less than RM50 at a time. Contributors can choose to withdraw partially or all at once.
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