With the latest announcement from the government to extend the Movement Control Order (MCO) for another two weeks until 14 April 2020, this surely impact on some people, financially. Thanks to our Prime Minister Muhyiddin Yassin, there are several initiatives announced before to ease the burden of Malaysians during the Covid-19 outbreak. One of the important initiatives is EPF members may apply for the i-Lestari Account 2 Withdrawal Scheme beginning 1 April 2020 for financial aid during this tough time.
EPF members can withdraw a maximum of RM500 a month for 12 months
Eligible EPF members can apply for the RM500 monthly withdrawal from Account 2 for a period of 12 months to ease their financial situation. This initiative is only applicable to EPF members aged below 55 years old. It is expected to benefit approximately 12 million EPF members with an estimated total withdrawal of RM40 billion.
The Prime Minister has urged Malaysians to use the EPF withdrawal initiative wisely and only use it to buy basic necessities. The RM 500 withdrawal money can be used to pay for water and electricity bills, for rent and for food.
You can apply beginning 1st April 2020
For registration, members may apply starting 1st April 2020. Online application encouraged to speed up the process and the processing will be completed within 3 days. They can expect their savings to be deposited into their bank accounts from May 1.
According to EPF portal, additional details will be published on EPF’s website, Facebook and Twitter accounts soon. It is also reminded to be cautious of scams offered by irresponsible parties by dealing directly with the EPF.
You can check your EPF account balance via the i-Akaun portal. Alternatively, you can check the i-Akaun app on Google Play Store and Apple App Store. Members only need to apply once and the amount will be credited to your account.
Alternatively, if you’re unable to apply online you can also apply for i-Lestari by sending your application to this email email@example.com or post your application to this address:
Kumpulan Wang Simpanan Pekerja Karung Berkunci No 220,
Jalan Sultan 46720 Petaling Jaya