EPF Account 3 @ flexible account withdraw
May 18, 2024 / 0 comments / 247 views / Tags: Account 3, EPF, KWSP, Malaysia / Category: Article and lifestyle
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.
Summary
- Total of 10% Contribution to account 3
- Contribution start from RM0
- Convertible funds from account 2 to account between 12/5/24 – 31/8/24
- Flexible withdraw of minimum RM50 via EPF i-Akaun app
- Interest payable to account 3
Thank you.
Dividend by EPF Malaysia for year’s
March 7, 2023 / 0 comments / 721 views / Tags: dividend, Employee Provident Fund, KWSP, Malaysia / Category: Article and lifestyle
Dividend by EPF Malaysia
Dividend announced by EPF Malaysia a dividend rate of conventional saving and 4.75% for Syariah account.
The table chat
| Year | Conventional | Syariah |
| 2023 | 5.5% | 5.4% |
| 2022 | 5.35% | 4.75% |
| 2021 | 6.1% | 5.65% |
| 2020 | 5.2% | 4.9% |
Semakan Dividen
EPF member are able to check the amount of dividends 2022 that have been credit into statement account from March 4, 2023 online .
Guarantee Dividend
The guarantees a minimum of 2.5% for Conventional account through approve investments to ensure that your saving are secured.
Annual payout is credit based on your savings as at 1st January yearly and calculate based on your daily aggregate balance.
Mandatory and voluntary
Under voluntary Individual employed, self-employ or business owners are eligible to contribute based on their own requirement.
Whereas your monthly contribution will earn dividend base on day’s in the month of said contribution until the end of that year.
Mandatory Rate
11% Employee compulsory contribute rate.
13% Employers Compulsory contribute rate ( salary RM5,000 & below)
12% Employers compulsory contribute rate ( salary RM5,000 & above)
Annual Tax Exemption
Tax-deductible up to a maximum amount of RM4,000 or more subject to amendments ( if any) by the government.
Withdraw of EPF Savings are free from paying income tax and returns on the EPF investment are also tax-exempted.
马来西亚公积金局的股息 马来西亚公积金局的股息宣布其 2022 年传统储蓄的股息率为 5.35%，伊斯兰教的股息率为 4.75%, 公积金局会员可以在线查看从2023年3月4日起存入报表账户的2022年股息金额. 公积金局通过批准的投资为常规账户提供至少 2.5% 的保证，以确保您的储蓄有保障, 年度支出是根据您每年 1 月 1 日的储蓄计算的，并根据您的每日总余额计算. 在自愿的情况下，受雇个人、个体经营者或企业主有资格根据自己的要求缴款, 而您的每月供款将在该供款月份的当天赚取股息，直至该年年底. 根据政府的修订（如果有），最高可扣税 RM4,000 或更多, 提取公积金储蓄无需缴纳所得税,公积金投资的回报也免税.
