The government had announced that the Employees’ Provident Fund (EPF) will be restructured into 3 accounts.
This third account, the flexible account, will house 10% of the funds, and it can be taken freely by those 55 years of age and below.
This third account was created on May 11, and EPF uploaded a video showing Malaysians how to transfer their money from the other accounts to the third one.
Here are the steps:
1. Log in to your account on EPF.
2. When the flexible account page appears, tap on “ketahui lanjut” (to learn more).
3. A restructuring chart will be shown, tap “seterusnya” (next).
4. Details about how the money will be transferred will also be shown. Tap “pindah sekarang” (transfer now).
5. A notice will be shown and an FAQ can be accessed, please read everything and only proceed by pressing “teruskan” if you’d like to continue.
6. An estimation of the amount of money in all 3 accounts will be shown, press “teruskan” to continue.
7. Terms will be shown, so make sure that you read all of them before pressing “terima” (accept).
8. A pop-up will ask if you’re sure about your choice, tap on “ya” (yes) to continue.
9. Your reference number will be shown along with the status.
Well, that seems fairly simple, if you want to know more, you can click here to read the FAQ on Account 3.
Also read: Malaysians Can Withdraw from Their EPF’s Account 3 ANYTIME from May 11 Onwards, Here’s How it Works
