In April this year, Government launched the EPF Special Withdrawal Scheme (Pengeluaran Khas) under which members are allowed to make a one-off withdrawal of RM10,000 from their EPF accounts. At that time, the EPF Board stated that the member’s monthly contributions would then go into the first account until the withdrawal amount is filled.
If you have previously participated in the EPF Special Withdrawal Scheme, then you can check if your monthly contributions have been credited to the First Account. If you notice that your monthly contributions are starting to split into two parts and one part is starting to go into the second account, then this means that your withdrawal amount has been filled.
Every EPF Board member has 2 accounts in the EPF, the first account and the second account. The first account is a veritable pension account, while the second account can be used to buy a home or pay for medical or educational expenses before retirement.
Under normal circumstances, monthly contributions to the EPF will be paid into the first account and the second account on a 70% to 30% basis, i.e. 70% of the contributions will be paid into the first account and 30% will be paid into the second account.
Members can check the latest status of their EPF accounts through the i-AKaun APP.
