EPF

Employees Provident Fund (EPF) Withdrawal Procedure

Account 1 Account 2 % of distribution from monthly contribution 70% 30% Purpose of Account Savings for retirement. This savings cannot withdraw before you attain the age of 55 years old. To own a house To finance you and your children’s education. For medical expenses. Upon attaining age of 50 years old.

Types of residential housing withdrawals:
1) To purchase or build a first house.
2) To purchase or build a second house.
3) To reduce or redeem the housing loan for first house.
4) To reduce or redeem the housing loan for second house.
5) To assist spouse to reduce or redeem his/her housing loan.

1) To purchase or build a first house.

• The difference between the purchase price of the house and the housing loan plus an additional sum of 10% of the price of the house OR
• Balance Available in Account 2, whichever is lower.

2) To purchase or build a second house.

• Members are allowed to withdraw their EPF savings for a second time to purchase another house on condition that members have sold (not in possession) the first house purchased through EPF withdrawal.

3) To reduce or redeem the housing loan for first house.

• Application for withdrawal can be made once every year from the date of the last housing withdrawal, with a minimum amount of RM500.

4) To reduce or redeem the housing loan for second house.

• The same conditions apply as per item 3 above, but subject to showing proof of sale or not in possession of the first house to EPF.

5) To assist spouse to reduce or redeem his/her housing loan

• Members are allowed to withdraw all money from Account 2 or the difference between the purchase price and loan amount, whichever is lower, to assist their spouse to reduce or redeem the housing loan even though they are not the borrower.

NOTE: The member need not be a joint owner of the house, The condition of withdrawal include the proof of marriage.

Requirement:
1) You must be a member of EPF
2) You have not reached 55 years of age on the date the application is received by EPF.
3) You still have savings in Account 2.

Procedure
1) Submission of EPF withdrawal form together with the original copy of the Sale and Purchase Agreement.
2) Photocopy of your Identification Card.
3) A copy of the letter of loan approval from your end-financier.

Note: The original Sale and Purchase Agreement, Letter of Loan Approval from your end-financier and your original Identification Card have to be sighted by the EPF officials.

Further detail can be referred to:
Kumpulan Wang Simpanan Pekerja
Bangunan KWSP, Jalan Raja Laut, 50350 Kuala Lumpur.
Tel : (603) 26946566 Email : enquiry@epf.gov.my
Fax : (603) 26948433 Website : www.kwsp.gov.my