EPF Account 1 Withdrawal Is Allowed Up To RM500 Per Month

The government has stated that the employee EPF contribution rate was reduced to 9% from 11% from January 2021 for a period of 12 months.

The EPF savings withdrawal facility is targeted from Account 1 of RM500 / month for 12 months up to RM6,000 for members who lose their jobs. While eligible members can apply from January 2021.

The matter was presented by the Minister of Finance Tengku Zafrul Tengku Abdul Aziz in the Dewan Rakyat through a live broadcast of the 2021 Budget just now.

Kemudahan pengeluaran simpanan KWSP bersasar dari Akaun 1 sebanyak RM500/bulan untuk 12 bulan sehingga RM6,000 bagi ahli yang kehilangan pekerjaan. #KesejahteraanRakyat #Belanjawan2021

Ahli yang layak boleh membuat permohonan mulai Januari 2021.

— Ministry of Finance🇲🇾 (@MOFmalaysia) November 6, 2020

Source: BERNAMA TV, Ministry of Finance