2.5 MILLION EPF MEMBERS APPROVED FOR i-SINAR AS AT 4 JANUARY 2021
Total withdrawal of RM19.62 billion
KUALA LUMPUR, 6 January 2021: As at 4 January 2021, the Employees Provident Fund (EPF) has approved 2.5 million out of a total of 3.88 million applications for i-Sinar, which has been open for submissions under Category 1 since 21 December 2020. The current total approved withdrawal amount is RM19.62 billion, with the first month’s payout amounting to RM10.07 billion to be made in stages beginning 5 January 2021.
The EPF notes that a majority of the remaining 1.4 million submissions which have yet to be approved, falls under the criteria outlined under Category 2, which will open for submissions from 11 January 2021. Members who fall under Category 2 are advised to start preparing relevant documents such as official pay slips (which details total salaries including overtime and commissions) and / or bank statements, for uploading on i-Sinar Online.
To ensure a smooth and speedy application process, members must ensure all supporting documents submitted are clear, valid, and accurately supports their application. Further information can be found on isinar.kwsp.gov.my.
Out of the total 3.88 million applications received, 701 were not approved due to various reasons, such as non-matching of bank account numbers, applications made on behalf of deceased members, or members being able to make total withdrawals from Account 1 under the existing 55 years old facility.
The EPF further assures members that the fund has put in place measures to prevent irresponsible third parties or scammers from making fake submissions and posing a danger to members’ hard earned retirement savings. The EPF strongly advises members to avoid sharing photos or documents of their i-Sinar submissions or withdrawals on social media, as this would expose them to potential scams and fraudsters.
Taking into consideration the current COVID-19 pandemic, all applications are only done online via isinar.kwsp.gov.my, and members are not required to physically visit any of the EPF’s branches.
Applications for i-Sinar remain open until 30 June 2021.
Issued by the EPF Media Desk
Corporate Affairs Department
6 January 2021