EPF Board launched three withdrawal schemes in 2020 and 2021, namely i-Lestari, i-Sinar and i-Citra, which resulted in 2.6 million members having less than RM1,000 in account.
EPF Board said that a total of 7.3 million members have applied for the withdrawal scheme at least once. The withdrawal amount involved in the i-Lestari withdrawal scheme was RM20.8 billion, i-Sinar withdrawal was RM58.7 billion and i-Citra withdrawal was RM21.4 billion.
According to the information issued by KWSP, as of the end of December 2021, there were 6.1 million members with less than RM10,000 in deposits and 2.6 million (88%) members with less than RM1,000 in deposits.
