4 days ago
RM14.79bil withdrawn from EPF Flexible Account since May 2024, says Anwar
KUALA LUMPUR: More than 4.6 million Employees Provident Fund (EPF) members have withdrawn from the Flexible Account since May 2024, says Prime Minister Datuk Seri Anwar Ibrahim.
He added that the total withdrawals reached RM14.79bil as of June 30 and said that the figure represents 35.1% of the 13.2 million EPF members under the age of 55.
'The remaining balance in the Flexible Account stands at RM10.16bil,' he said in a written reply to Datuk Seri Shahidan Kassim (PN–Arau).
Shahidan asked whether the Government will allow a special EPF withdrawal in 2025 by moving 30% from Account 1 to Account 3.
Anwar said EPF savings, particularly Account 1, are for retirement and are not a long‑term solution to cost of living or employment issues.
He added that the Government has introduced direct cash aid, targeted subsidies, and special incentives to ease burdens and safeguard well‑being.
Anwar then said past special withdrawals, including from Account 1, were temporary measures during the Covid‑19 pandemic.
He added that such withdrawals are inconsistent with EPF's mandate as trustee of retirement savings and with international social protection standards.
