EPF Members Can Withdraw RM500 Per Month For 12 Months Beginning 1st April 2020

Today, 23rd March 2020, PM Tan SriMuhyiddin Yassin announced in a special media conference that several initiatives will be implemented to ease the people’s burden. One of them is that the government is allowing a monthly withdrawal of RM500 from people’s Employee Provident Fund (EPF) for up to 12 months.

Inisiatif ekonomi: Kemudahan pengeluaran i-Lestari bagi pencarum KWSP berjumlah RM40 billion – PM @MuhyiddinYassin pic.twitter.com/CCSwfMmJuP

— BERNAMA (@bernamadotcom) March 23, 2020

This i-Sustainable production facility for contributors EPF amounts to RM40 billion. Only EPF members aged under 55 can make these withdrawals from the savings in Account 2. These applications can be made from the 1st of April 2020 and is expected to benefit up to 12 million EPF members.

Kudos to the government for thinking about those whose livelihood is affected through the MCO. Stay tuned for more updates!