Today is definitely a busy day for most Malaysians who have started applying for EPF withdrawal through i-Sinar. A lot of people are certainly looking forward to making withdrawals according to the desired amount.
However, the Employees Provident Fund (EPF) has also created an ‘initiative’ to advise the public on the withdrawal amount before applying. It can be seen after you have filled in the identity card number and mobile phone number and answered five questions.
After that, you can specify the desired amount from minimum to maximum.
In this section, a female character named Elya will appear and introduce herself as an EPF online advisor.
Elya serves to advise you on the withdrawal of the desired amount and provide an estimate of the doubled amount if you do not withdraw it until the age of 55 years.
For example, if you choose to withdraw the maximum amount of RM10,000, Elya estimates that the amount will double by RM31,186.51 if kept until you are 55 years old. Hopefully, with Elya as an EPF online advisor, it can help you to withdraw the amount specific only according to current needs.
However, it is all up to you, there is no compulsion to withdraw your savings. Best of luck!
Sources: KWSP