KUALA LUMPUR: The Employees Provident Fund (EPF) has approved a total of RM19.62 billion in withdrawal amount involving 2.5 million applications for i-Sinar, as at Jan 4.
The first month's payout amounting to RM10.07 billion will be made in stages beginning January 5, 2021, it said in a statement today.
EPF said it has received a total of 3.88 million applications for i-Sinar as the facility was open for submissions under Category 1 since Dec 21, 2020.
The i-Sinar facility allows eligible members to withdraw their retirement savings as part of a government scheme to support Malaysians who were hit by the Covid-19 pandemic.
EPF said 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 Jan 11.
"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," said EPF.
EPF said members must ensure all supporting documents submitted are clear, valid, and accurately supports their application to ensure a smooth and speedy application process.
Additional information can be found on isinar.kwsp.gov.my.
EPF said 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-year-old facility.
"EPF 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."
EPF urged 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 June 30, 2021.