EPF: Minimum withdrawal cut to RM50K for savings over RM1m

The Employees Provident Fund (EPF) has reduced the minimum amount that can be withdrawn at any one time to RM50,000 from RM100,000 previously for members who have at least RM1.05m in their savings. EPF general manager public relations Nik Affendi Jaafer, said withdrawals could be made once every 3 months subject to there being sufficient amount in the member’s account. It said the withdrawal offered members who had savings in excess of RM1m an opportunity to manage and invest on their own. (Financial Daily)