M’SIANS ALLOWED TO DRAW RM500 FROM THEIR EPF MONTHLY

In some countries, its called CPF. In Malaysia its call EPF.

Malaysians are now allowed to withdraw from their account of up to 500RM every month to buy essential items. This is to help Malaysian citizens during the coronavirus crisis.

Malaysians aged 55 and below can with from their EPF Account 2 for over 12 months.

Malaysia Prime Minister’s Office:

“Even though the amount is insignificant, but these are money by the sweat of your brows that should be used when we retire in the future which the government has now allowed to be utilised at this time.”

“This initiative worth RM40 billion in withdrawals is expected to benefit almost 12 million EPF users with application set to open up beginning April 1,”