{"id":952,"date":"2017-12-15T18:25:05","date_gmt":"2017-12-15T10:25:05","guid":{"rendered":"https:\/\/www.everydayonsales.com\/news\/?p=952"},"modified":"2017-12-15T18:25:05","modified_gmt":"2017-12-15T10:25:05","slug":"new-epf-schemes-members-can-partially-withdraw-amount-time","status":"publish","type":"post","link":"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/","title":{"rendered":"New EPF Schemes – Members Can Partially Withdraw Any Amount Any Time"},"content":{"rendered":"

Good News as Employee Providence Fund (EPF)<\/strong> has announce a new enhance EPF schemes<\/strong><\/em> starting from January 2018 and it’s a great benefit to it’s member.<\/p>\n

\"EPF

Image via The Malaysian Times<\/p><\/div>\n

As according to the CEO of EPF, Datuk Shahril Ridza, \u201cThese enhancements are to keep pace with changes in member\u2019s needs and expectations,\u201d. This announcement will be definitely a good start for 2018<\/p>\n

There are 4 new changes on the EPF Schemes and they are:<\/p>\n

1. Member can\u00a0appoint Amanah Raya Berhad (ARB) as nominee\/administrator trustee<\/h4>\n

Members will have the option to appoint Amanah Raya Berhad (ARB) as the nominee\/administrator or trustee to their EPF savings. This would facilitate faster and equitable distribution of their savings to next-of-kin, upon members\u2019 demise.<\/p>\n

This would be especially beneficial for members with children below 18 years old. This new option is in addition to members\u2019 existing right to appoint any individual persons as nominees.<\/p>\n

2.\u00a0Enhancement to Age 55 and Age 60 withdrawal payment options<\/strong><\/h4>\n

The Age 55 and Age 60 withdrawal policies have been enhanced and simplified to enable members make partial withdrawals of any amount at any time, as opposed to the current policy that only allows withdrawals of a minimum of RM2,000 once every 30 days.<\/p>\n

In addition, members who choose to make monthly withdrawals will be able to withdraw from as low as RM100 per month, as opposed to RM250 in the current policy.<\/p>\n

To help members plan their long-term retirement needs and decide on the optimum withdrawal amount and frequency, the EPF urges members to take advantage of its Retirement Advisory Services provided for free at its 18 branches nationwide.<\/p>\n

\"New

Image via Barisan Nasional<\/p><\/div>\n

3.\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong>Flexible withdrawal policy until age 100<\/strong><\/h4>\n

The flexible withdrawal policy, which allows members to withdraw any amount at any time for partial withdrawals, has been extended up to age 100 from the current age cap of 75 years old.<\/p>\n

Members may also opt to make a combination of monthly and partial withdrawals.<\/p>\n

This enhancement is in line with the extension of dividend payment from age 75 to 100.<\/p>\n

4.\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong>Extension of Death Benefit from age 55 to 60<\/strong><\/h4>\n

The current death benefit of RM2,500 claimable if the member dies before age 55, will be extended until age 60.<\/p>\n

This enhancement is in line with the national retirement age at 60 years old.<\/p>\n

This is extracted from the official KWSP website<\/strong><\/a> and if you need further clarification on this matter, please visit their official website or contact their management centre.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good News as Employee Providence Fund (EPF) has announce a new enhance EPF schemes…<\/p>\n","protected":false},"author":3,"featured_media":953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[89],"tags":[118,119],"class_list":["post-952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-epf-schemes","tag-new-epf-scheme"],"acf":[],"yoast_head":"\nNew EPF Schemes - Members Can Partially Withdraw Any Amount Any Time - EverydayOnSales.com News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New EPF Schemes - Members Can Partially Withdraw Any Amount Any Time - EverydayOnSales.com News\" \/>\n<meta property=\"og:description\" content=\"Good News as Employee Providence Fund (EPF) has announce a new enhance EPF schemes…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/\" \/>\n<meta property=\"og:site_name\" content=\"EverydayOnSales.com News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/everydayonsales.my\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-15T10:25:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.everydayonsales.com\/wp-content\/uploads\/sites\/5\/2017\/12\/epf-scheme.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@everydayonsales\" \/>\n<meta name=\"twitter:site\" content=\"@everydayonsales\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/\",\"url\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/\",\"name\":\"New EPF Schemes - Members Can Partially Withdraw Any Amount Any Time - EverydayOnSales.com News\",\"isPartOf\":{\"@id\":\"https:\/\/www.everydayonsales.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/#primaryimage\"},\"thumbnailUrl\":\"\/wp-content\/uploads\/sites\/5\/2017\/12\/epf-scheme.jpg\",\"datePublished\":\"2017-12-15T10:25:05+00:00\",\"dateModified\":\"2017-12-15T10:25:05+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/#primaryimage\",\"url\":\"\/wp-content\/uploads\/sites\/5\/2017\/12\/epf-scheme.jpg\",\"contentUrl\":\"\/wp-content\/uploads\/sites\/5\/2017\/12\/epf-scheme.jpg\",\"width\":1024,\"height\":576,\"caption\":\"New EPF Scheme\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.everydayonsales.com\/news\/new-epf-schemes-members-can-partially-withdraw-amount-time\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.everydayonsales.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New EPF Schemes – Members Can Partially Withdraw Any Amount Any Time\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.everydayonsales.com\/news\/#website\",\"url\":\"https:\/\/www.everydayonsales.com\/news\/\",\"name\":\"EverydayOnSales.com News\",\"description\":\"We are truly Malaysia's social news network. 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