KWSP has announced details of its Special Withdrawal Plan, with applications opening April 1 and disbursements beginning April 20.
According to information released by the Employees Provident Fund Board (KWSP), all members who are currently 55 years of age or younger are eligible to apply for withdrawals. Eligible members can apply for withdrawals between April 1 and April 30, 2022, and payments will begin to be released on April 20, 2022.
The EPF Special Withdrawal Scheme will be available online and members can make withdrawal requests through the EPF Board’s dedicated website. The EPF Board has not yet announced which website will be used to submit applications.
The EPF Board will give priority to members withdrawing from their CPF Tier 2 accounts and if there are insufficient deposits, withdrawals will be made from their EPF Tier 1 accounts. The minimum withdrawal amount for the EPF Special Withdrawal Scheme is RM50 and the maximum withdrawal amount is RM10,000.
The EPF Board has not yet announced the withdrawal method, i.e. whether the maximum amount of RM10,000 will be withdrawn in a lump sum or in batches. More details will be announced by EPF Board in the near future.
