HomeNews FeedHere's what you need to know about the RM10K EPF Special Withdrawal

Here’s what you need to know about the RM10K EPF Special Withdrawal

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Image from Utusan Malaysia

Recently, due to the pandemic in Malaysia, many people have lost their jobs. Until today, there are people who are having a hard time managing their kids and families. Due to that reason, the Malaysian government allows fund withdrawal from the Employees Provident Fund (EPF). That’s why, i-Lestari, i-Citra and i-Sinar were launched back in 2021.

Now, the nations have requested the government to allow a one-off RM10,000 payment through the EPF. After so many petitions finally, our Malaysian government have decided to give a green light for this withdrawal initiative. Starting 1st April 2022, you can start to submit the withdrawal application through the EPF portal.

How to apply for the EPF Special Withdrawal program?

Similar to the previous programs, you need to submit your withdrawal application through the EPF portal. All you need to do is launch the portal from your smartphone or computer.

On the first page, you will be asked to enter your identification number (MyKad) and your contact number. After clicking on the “Teruskan” button, there will be another page, where you need to choose the amount for your withdrawal. Some users might be eligible for RM5,000 else RM10,000. There is a chance too that the person might not be eligible at all for any amount. We will talk more about eligibility in the later section of this post.

Then once again, you will require to click on the “Teruskan” button to proceed to the next page. On this final page, you will be shown your personal details which include your full name, bank details and your address as well. Upon confirming that all the details are correct, you need to check the checkbox below for the terms and conditions. Finally, you need to click on the “Hantar” button to submit the application.

When will I get paid?

Well, that’s the question most of you might be thinking now. According to the information from the EPF portal, the money will start to disburse to the people starting on 20th April 2022. Besides that, you can start to monitor the status of your application starting on 9th April 2022. Do note that the application is only open until the 30th of April. So do not miss the chance.

Am I eligible for the RM10K one-off withdrawal?

First of all, any funds related to the Malaysian government are only applicable to Malaysians. However, for this special withdrawal, you don’t need to be a Malaysian citizen. As long you are working in Malaysia you will be eligible to submit your online application.

There are a couple of things to note before submitting your application. As a verified EPF contributor, your age should be lesser than 55 years old. Next, in your EPF account, you need to have at least RM150. In order to check your account balance, you can either visit the EPF website or download either the iOS or Android apps on your smartphone to view your account balance quickly.

In a nutshell, the RM10,000 EPF Special Withdrawal is the last initiative from our Malaysian government. If you miss out on this opportunity, then you cant expect our government to provide another withdrawal initiative for the nation. Use the RM10,000 wisely. For more info, visit the EPF portal.

Raaj Lokanathan
Raaj Lokanathan
A software engineer as a profession. A tech blogger as a passion.

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