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aws账号( Act has no provision that allows withdrawals for natural disasters



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The government has been urged to approve the withdrawal of RM10,000 under i-Citra to allow flood victims to rebuild their lives following the devastating disaster. – The Malaysian Insight file pic, December 28, 2021.

THE Employees Provident Fund (EPF) Act 1991 does not provide for savings withdrawals for natural disasters, said the federal statutory body.

EPF in a statement today said it is governed by the Act, which stipulates that Account 1 (70% of savings) is designated for retirement, while Account 2 (30%) is meant for discretionary withdrawals aimed at securing a brighter retirement in the future.