EPF i-Sinar Account 1 withdrawal: Here's everything you need to know

Submitted by pmassetti on Mon, 12/21/2020 - 16:21
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The Employees Provident Fund (EPF) has revealed full details for the i-Sinar program which will allow eligible members to make withdrawals from Account 1. The i-Sinar program was introduced to assist members who are affected by the current pandemic situation. Affected members who wish to take out funds are able to apply online starting from 21st December 2020.

measures summary

The Employees Provident Fund (EPF) has revealed full details for the i-Sinar program which will allow eligible members to make withdrawals from Account 1. The i-Sinar program was introduced to assist members who are affected by the current pandemic situation. Affected members who wish to take out funds are able to apply online starting from 21st December 2020. It allows around 8 million provident fund members aged 55 or younger who have lost their jobs or experienced a significant income reduction because of the COVID-19 pandemic to withdraw a portion of their Account 1 balances. (The EPF provides two types of individual accounts for members younger than age 55: Account 1 that funds retirement and Account 2 that may be accessed before retirement for education, designated critical illnesses, a home purchase, and other approved expenses.) 

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