EPF - Account Restructuring

On 25 April 2024, the Employees Provident Fund (EPF) issued an announcement on the restructuring of its members’ accounts effective from 11 May 2024 to enhance their income security after retirement while addressing members’ current life cycle needs.

Member accounts will be restructured from two (2) accounts namely Account 1 and Account 2 to three (3) accounts as follows:

• Akaun Persaraan to accumulate savings that will serve as income during retirement;
• Akaun Sejahtera to address life cycle needs that contribute to wellbeing during retirement; and
• Akaun Fleksibel as a new account that provides flexibility for short-term financial needs. Savings in this account can be withdrawn at any time according to members’ needs.

Please click here for further details.