KWSP will advance RM1000 to members who apply for withdrawal from January 26
The i-sinar program with features which enable you to withdraw RM10,000 and not more than Rm100,000
According to the information released by the Employees Provident Fund (KWSP), in order to help members obtain their own provident fund deposits as soon as possible, the Provident Fund has introduced a prepayment (Bayaran Interim) measure. Before the member’s first account withdrawal application is approved, they can get an advance payment of up to RM1000.
When the Provident Fund Bureau launched the first account withdrawal (i-Sinar) of the Provident Fund, the members were divided into two groups, that is, the first group of members who did not need additional documents to prove the income reduction, and the second group who needed additional documents to prove the income reduction Group members.
As Bus Driver, you are allowed to enroll for the i-sinar program
It takes some time for the CPF Board to review the withdrawal applications of the second group of members, which may cause the second group of members to delay receiving their provident fund deposits.
In order to solve this problem, the Provident Fund Board introduced a prepayment system. Members can self-declare and upload simple documents before the withdrawal application is reviewed, and then they can be processed within 7 application days and receive their own deposits.
Once the member’s application is reviewed, the Provident Fund Board will issue the required remaining amount (minus the advance payment) according to the plan. If the member’s self-declaration and the uploaded documents are found to have errors, the Provident Fund Board will have the right to stop the payment of the remaining funds.
If you have made a withdrawal from your CPF first account, but it has not been processed yet, you can get RM1000 in advance from January 26.
There is a lot of people who can submit for the i-sinar program with automated approval