UP TO RM1,000 IN INTERIM PAYMENT FOR i-SINAR CATEGORY 2 FACILITY
Payment to start from 26 January 2021
KUALA LUMPUR, 18 January 2021: The Employees Provident Fund (EPF) announces that members applying for the i-Sinar facility under Category 2 will receive an interim payment of up to RM1,000 from the total amount applied, starting from 26 January 2021.
The interim payment is designed to help lessen the financial burden of members applying for the facility as they face added woes caused by the increasing number of COVID-19 cases as well as flooding in several states in Malaysia. It is also meant to assist members to tide over the time taken while their applications are being approved and verified by the EPF.
To expedite and facilitate the interim payment, the EPF will only require a simple self-declaration from members and the uploading of relevant supporting documents on i-Sinar Online via isinar.kwsp.gov.my. This process is required to safeguard members’ savings from potential scams and fraudsters.
For those who have already submitted their supporting documents, the interim payment will begin from 26 January 2021, while for new applications that have yet to submit their relevant supporting documents, the interim payment will be processed within seven (7) days from the date the application is received.
Once applications have been properly verified and approved, the EPF will proceed with the scheduled release of the remaining amount requested, minus the interim payment. In the event the self-declaration is found to be untrue or unsupported by the documents uploaded, the EPF reserves the right to stop future payments.
An example of Fatimah’s situation:
Fatimah experiences an overall income reduction by as much as 30% and applies to make withdrawals of up to RM10,000*, with RM5,000 as the first payment. Following the implementation of the interim payment, the payment schedule for Fatimah’s application is as follows:
|Interim Payment Amount||RM1,000|
|First Payment Amount||RM4,000|
|Second Payment Amount||RM1,000|
|Third Payment Amount||RM1,000|
|Fourth Payment Amount||RM1,000|
|Fifth Payment Amount||RM1,000|
|Sixth Payment Amount||RM1,000|
|Total Amount Applied||RM10,000*|
An example of Ali’s situation:
Ali experiences an overall income reduction by as much as 30% and applies for RM700 as the total withdrawal amount, as he only has RM800 available in Account 1. Following the implementation of the interim payment, the payment schedule for Ali’s application is as follows:
|Interim Payment Amount||RM700|
|First Payment Amount||None|
|Total Amount Applied||RM700*|
Issued by the EPF Media Desk
Corporate Affairs Department
18 January 2021