Almost RM1bil approved for EPF Account 2 support facility as at June 11

KUALA LUMPUR, June 22 (Bernama) – A total of RM981.9 million had been approved for the Employees Provident Fund (EPF) Account 2 Support Facility (FSA2) as at June 11, 2023, said the Finance Ministry.

A total of RM878.6 million involved the FSA facility under MBSB Bank Bhd and the remaining RM103.3 million was under Bank Simpanan Nasional, it said.

"A total of 168,925 contributors applied for the FSA2, but only 88,414 applicants were eligible and of this number, 47,696 agreed to accept the funding offer," said the ministry in a written reply in response to Senator Dr Wan Martina Wan Yusoff's question on the matter at Dewan Negara today.

Ineligible applications were due to the applicants not meeting the eligibility requirements such as incomplete applications, being outside the eligibility age, and having insufficient savings balance in Account 2, it said.

Applications for the FSA2 Phase 1, which opened on April 7, 2023, will close on April 6, 2024.




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