Did You Know: You Can Withdraw From Your EPF If You Have More Than RM1 Million In Savings

Did You Know: You Can Withdraw From Your EPF If You Have More Than RM1 Million In Savings

SAYS - Lifestyle·2024-10-15 17:04

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As a Malaysian, you likely contribute to the Employees' Provident Fund (EPF) to save for your retirement, and typically, withdrawals are only allowed after you reach age 55.

However, did you know that if you've accumulated over RM1 million in savings, you can make a withdrawal ahead of time?

The official EPF website states that members with more than RM1 million in savings have the flexibility to withdraw and manage excess savings on their own.Members can withdraw any amount exceeding RM1 million, with withdrawals first deducted from their Akaun Fleksibel (Account 3). If that balance is insufficient, funds will then be taken from their Akaun Sejahtera (Account 2) and Akaun Persaraan (Account 1).

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