No changes to the current types of withdrawals, says EPF

 |Jan 16, 2017
EPF, in a statement today said there are no changes to the current types of withdrawals.
EPF, in a statement today said there are no changes to the current types of withdrawals.

The Employees Provident Fund (EPF) has yet to receive any proposal to reactivate the withdrawal for computer purchases from the second account.

As of now, there are no changes to the current types of withdrawals, said EPF in a statement to clarify several news reports which carried the remarks by Deputy Finance Minister Lee Chee Leong on the proposal to resume the withdrawal facility.

The earlier Computer Purchase Withdrawal Scheme, which was introduced in 2001, had to be discontinued in August 2002 following cases of abuse upon discovering the intended withdrawals were not used to purchase a computer.

“EPF would like to stress that the savings are to fund members’ retirement with the pre-retirement withdrawal facilities being introduced to cover basic needs such as buying a house, paying for medical expenses and education,” it added.

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