KUALA LUMPUR, 26 June 2020: The Employees Provident Fund (EPF) takes note of the World Bank’s suggestion to gradually raise the age when members can make full withdrawal of Accounts 1 and 2 of their EPF retirement savings from 55 to 65.
The EPF assures members that no such steps on raising the withdrawal age have been discussed with any party at this point in time. The fund stresses that it approaches major policies concerning members in a very prudent manner, including conducting in-depth studies and engagement with its members and key stakeholders. This is to ensure that members’ well-being is always at the forefront in carrying out the EPF’s mandate.
Issued by the EPF Media Desk
Corporate Affairs Department
26 June 2020
About the Employees Provident Fund (EPF)
The Employees Provident Fund (“EPF”) is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians