Kuala Lumpur: The government is finalising details on the withdrawal access for the proposed EPF flexible account, says deputy finance minister Ahmad Maslan.
However, he said there will be no withdrawal access from EPF accounts like previously.
“From next year, we will have the flexible account, but the method (of withdrawal) and the percentage of savings fund to be placed in this account have not been finalised.
“But the aim is to assist EPF members in making withdrawals during emergencies,” he said in response to a query from Fasiah Fakeh (BN-Sabak Bernam) on targeted withdrawals by EPF contributors in the Dewan Rakyat today.
SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more During the tabling of the 2024 budget recently, Prime Minister Anwar Ibrahim announced that the accounts of EPF members would be restructured to strengthen retirement savings.
Towards this end, the flexible account, a new EPF account to allow accessibility to members at any time, would be introduced, he said.
Meanwhile, in reply to a query from Khairil Nizam Khirudin (PN-Jerantut) on the installation of an automated teller machine in Batu Balai, Felda Lepar (Pahang), Ahmad said the finance ministry and banks will continue to expand their mobile banking services.
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