KUALA LUMPUR, March 2 — Applicants for the i-Sinar facility under the Employees Provident Fund (EPF) submitted before Feb 25 will be progressively approved in batches following the removal of all previous criteria set for the withdrawals, and payments begin Tuesday, March 2.
The EPF said this includes applications that are still awaiting approval and were previously rejected, before the improvised i-Sinar facility without criteria was implemented.
“The EPF appreciates members’ patience while this process is under way. Members who continue to see an unchanged application status may recheck their status on subsequent days,” it said in a statement.
EPF noted that new applications reflecting the removal of the criteria will be opened beginning March 8, 2021 for all other members below the age of 55, subject to their available Account 1 balance.
“This includes non-Malaysian EPF members. New applications will be processed within five working days of submission, after which members may check their application status and payment date,” it said.
The pension fund also said beginning March 8, members may amend their application details such as amount to be withdrawn, bank details, address, telephone number, and payment method on i-Sinar Online.
The amount for withdrawal, as well as the maximum six-month payment schedule of the amounts withdrawn are as previously communicated, it said.
The EPF said these include those who have RM100,000 and below in Account 1, they have access to any withdrawal amount of up to RM10,000, of which the payments will be staggered over a period of six months with the first payment of up to RM5,000.
For those who have above RM100,000 in Account 1, the EPF said they have access of up to 10 per cent of their savings, however, the maximum total amount withdrawal allowed is RM60,000 and the payments will also be staggered over a period of six months with the first payment of up to RM10,000.
Members may contact the i-Sinar hotline at 03-8922 4848 for further information. For general enquiries, members can contact the EPF Contact Management Centre at 03-8922 6000 or refer to the EPF website at www.kwsp.gov.my.
Source: BERNAMA