One of the initiatives taken by our government to alleviate the financial strain of citizens, following the enactment of Movement Control Order (MCO) since 18th March, is to allow contributors to withdraw their savings from the Employees Provident Fund (EPF) / Kumpulan Wang Simpanan Pekerja (KWSP), specifically from Akaun 2.
Obviously, this financial relief known as i-Lestari is only available to EPF members who have sufficient funds in Akaun 2.
– Malaysian citizen, permanent resident and non-Malaysian (with EPF membership)
– Aged 55 years and below
– Application is submitted before 31st March, 2021
Do take note, application is open now and must be submitted latest by March 2021. It can be done online at this dedicated EPF i-Lestari online webpage.
The approved minimum monthly amount is RM50, up to a maximum of RM500. This relief duration is up to 12 months only, which means that the sooner the application is submitted and approved, more months this relief will be deposited into the applicant’s bank account.
To illustrate, if your application is approved in April, you will receive funds monthly for the maximum duration of 12 months. However, if your application is only approved in May, you will only see the money for 11 months.
The maximum withdrawal is RM500 per month, as stated, because this money is to complement your monthly income source that has been impacted by the COVID-19 pandemic, and not to fully support your living expenses in total.
Once your application is approved, it cannot be cancelled. Also, you cannot change your bank account number midway to receive the funds, so do maintain your bank account and keep it active.
i-Lestari Withdrawal application is open NOW and can be done via the following channels:
1) i-Lestari Online on the EPF’s website at www.kwsp.gov.my, through i-Lestari Online;
2) Online via e-Pengeluaran on Member’s i-Akaun; or
3) By post addressed to:
Kumpulan Wang Simpanan Pekerja
Karung Berkunci No 220, Jalan Sultan,
46720 Petaling Jaya.
Note: Please state (Attention to: i- Lestari) on the front of the envelope.
Application through the i-Lestari Online and e-Pengeluaran has a faster turnaround while manual submission sent via post takes a longer processing time.
Withdrawal application for non-Malaysians is only available via post.
With all the above options, it is unnecessary for EPF members to be physically present at the nearest EPF office. Good move, as we are all under the Movement Control Order, as well as practising social distancing.
How to apply for i-Lestari Withdrawal online via e-Pengeluaran on i-Akaun (Member)? Here are the steps for i-Lestari withdrawal online via e-Pengeluaran on i-Akaun (Member):
a) Login to i-Akaun (Member)
b) Select Tab Withdrawal
c) Click e-Pengeluaran
d) Click New Application
e) Select i-Lestari Withdrawal to begin transaction
For more information, feel free to browse the EPF website HERE.