KUALA LUMPUR: The withdrawal details of the Employees Provident Fund's (EPF) i-Sinar facility will be announced on Nov 18.
EPF, in a statement today, said it is still in the midst of finalising the details of i-Sinar, a facility which would enable qualified contributors to withdraw from their Account 1.
"i-Sinar was developed after exhaustive and detailed consultation with key stakeholders to address the present challenges faced by affected members while ensuring some future retirement savings for them.
"EPF believes the total amount available under i-Sinar together with the maximum withdrawal of RM500 a month from Account 2 under the i-Lestari facility (launched in April 2020), will allow affected members to sustain themselves in the short term.
"i-Sinar further expands on the estimated total withdrawal amount of RM30 billion under i-Lestari which will be ending March 2021," it said.
It also said EPF contributors can start applying for the i-Sinar from December and amounts will be credited into contributors' bank accounts starting January 2021 onwards.