The Employees Provident Fund (EPF) announces that effective 21 July 2017, members will be able to settle their outstanding education loan amount from Account 2 under the Education Withdrawal facility irrespective of the effective date of their education loan agreement.
The enhancement will replace the current conditions of Education Withdrawals from Account 2 as outlined in the table below:
EPF Deputy Chief Executive Officer (Operations) Datuk Mohd Naim Daruwish said, “The enhancement to the policy was done after taking into consideration the feedback from members who faced difficulties in reducing or settling their education loans using their EPF savings.
“The EPF serves to create a positive member experience and we always strive to improve all areas that we can while delivering our mandate. We are pleased to note that the enhancement is expected to benefit up to 70,000 of our members who have yet to repay their education loans.”
Enhancement on Submission Period for Age 50/55/60 Withdrawal Application Form
In addition to the enhancement above, the EPF also announces that effective immediately, members can submit their withdrawal application form 9B (AHL) for Age 50 Withdrawals or Age 55 and Age 60 Full / Partial Withdrawals one (1) month prior to their birth date instead of the previous six (6) months.
“Before members make any withdrawals, we strongly encourage them to visit our Retirement Advisory Services located in 18 branches throughout Malaysia to receive free advice on the best withdrawal option that fits their needs,” added Dato’ Mohd Naim.
For further information and enquiries on the changes in the withdrawal policies, please call the EPF Contact Management Centre at 03-89226000, browse the EPF website at www.kwsp.gov.my or visit any EPF branches nationwide.