KUALA LUMPUR: The Employees Provident Fund (EPF) much-talked-about Account 3, known as Akaun Fleksibel was announced today and EPF’s 16.07 million mem...
: The Employees Provident Fund much-talked-about Account 3, known as Akaun Fleksibel was announced today and EPF’s 16.07 million members are free to decide if they want to move the funds there, said EPF chief executive officer, Ahmad Zulqarnain Onn.
Balances in Account 1 and Account 2 will remain in Akaun Persaraan and Akaun Sejahtera, respectively, while Akaun Fleksibel will start with a zero balance. For all those who opt in, allocation into the new accounts will be as follows: 75 per cent into Akaun Persaraan, 15 per cent into Akaun Sejahtera and 10 per cent into Akaun Fleksibel.
The initiative is not just EPF’s response to current needs but is also a proactive step to help members in facing the changing job landscape and demographics of the population. Dividends will remain the same across all three accounts. However, this could change in the future as liquid assets -- by default -- do not attract higher interest rates or dividends, he explained.Members can make withdrawals from Akaun Fleksibel at any time for any purpose, subject to a minimum withdrawal amount of RM50.
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