EPF Account 3

also known as “flexible account” is one of the three accounts introduced by the Employees Provident Fund (EPF) in Malaysia.

Features

Akaun Persaraan ( account 1) : This account serves as a repository for saving aimed at retirement, it accumulates funds to provide income during retirement.
Akaun Sejatera ( account 2) : This account caters to various life cycle need, it contributes to overall well-being during retirement.
Akaun Fleksible ( account 3 ) : This new account provides flexibility for short-term financial needs. You can withdraw savings from this account at any time for emergency spending or covering unforeseen expenses.

New Contributions Allocation

Starting from May 11, 2024 new contributions will be credited across three account as 75%, 15% and 10%. Existing balances in account 1 & 2 will remain and Account flexible 3 will start with Zero.

In between May 12, 2024 to August 31, 2024 all member will have a one-time option to transfer part of their Account 2 (Account Sejahtera ) savings balance to Account 3* and this action cannot be cancelled once completed.

Withdraw

Minimum withdrawal amount of RM50 from Account Flexible 3 can be make through the KWSP i-Akaun app or nearest branches, once processed the funds will be disbursed directly into EPF member’s bank account.

Summary

Commencing from May 11, 2024 Employee Provident Fund (EPF) implement Account Flexible 3.

The differential features of three account

Akaun Persaraan ( 1 )
Akaun Sejahtera ( 2 )
Akaun Fleksible ( 3 )

Allocations

Account 1 – 75%
Account 2 – 15%
Account 3 – 10%

Transfer funds from account 2 to account 3 in between 12/05/24 – 31/08/2024

Transfer all funds to account 3 if the balance RM1,000 or below
Transfer RM1,000 to account 3 if the balance in between RM1,000 -RM3,000
Transfer up to 33.33% to account 3, 16.67% to Account 1 and balance of 50% remain in account 2.