EPF Received Almost 3 Million Transfer Applications To Flexible Accounts


The Employees' Provident Fund (EPF) received 2.86 million requests to transfer the initial amount from the Sejahtera Account to the Flexible Account involving a total of RM8.78 billion as of May 22.

Its Chief Operating Officer, Sazaliza Zainuddin said after the relaxation was opened on May 12. A total of 3.04 million applications for the issuance of Flexible Accounts have been approved amounting to RM5.52 billion.

He also said that the EPF expects the number of applications to transfer the initial amount from their Sejahtera Account to the Flexible Account to continue to increase until the closing date on 31 August 2024.

They are also happy to see a significant increase in applications through the EPF i-Akaun mobile application.

This reflects the EPF's efforts to improve user experience and accessibility for them to continue to innovate in expanding the digital offering.

Commenting further, users are advised not to rush to transfer to the Flexible Account as the closing date for the transaction is on August 31 this year.

Members who have not yet registered with the EPF i-Akaun are encouraged to do so to enable withdrawal transactions from the Flexible Account.

Members are advised to register or update their mobile number through the Self Service Terminal (SST) available at any EPF branch in order to receive a Transaction Authorization Code (TAC) to verify their identity when conducting transactions.

Withdrawals from the Flexible Account can be made at any time for any purpose with a minimum withdrawal of RM50.