You Can Now Withdraw Up To RM5,000 With EPF's i-Citra Withdrawal Facility
All members below the age of 55 can apply for i-Citra.
By Fionaa Kessler — 30 Jun 2021, 03:10 PM
As part of the Malaysian government's efforts to meet the needs of Malaysians impacted by the pandemic, the Employees Provident Fund (EPF) announced the i-Citra withdrawal facility
This facility is designed to help those affected by the Full Movement Control Order (FMCO) in the short term.
Starting 15 July 2021, EPF members can apply via the i-Citra online portal
All members under the age of 55 can apply for i-Citra, which allows them to withdraw up to RM5,000 depending on their total combined balance in Accounts 1 and 2. The approved withdrawal amount will be paid over a five-month period, with a fixed monthly payment of RM1,000.
The eligibility amount is determined based on your outstanding balance in your EPF account at the time of application and approval. You will be eligible if you have savings in both Accounts 1 and 2.
Another important thing to note is that i-Citra fully utilises your savings in Account 2 before accessing Account 1
Additionally, you're allowed to revoke or cancel your application once it has been approved, but you will not be able to reapply after cancellation.
To speed up the application process, you'll need an updated mobile number to receive the Transaction Authorisation Code (TAC) and an active personal bank account.
Members can expect the first payout credited to their respective accounts in August 2021.
Frequently Asked Questions (FAQ)
1. When is the application deadline for the i-Citra initiative?
The application period is from 15 July to 30 September 2021.
2. Will this affect my application to the i-Sinar programme?
No, the i-Citra payments can be concurrent with the previous i-Sinar programme.
3. Can I determine the amount I want to withdraw?
Yes, members are allowed to determine the total withdrawal amount subject to the maximum eligible amount.
4. When is this programme ending?
The programme will end on 28 February 2022.
5. What's the minimum balance that I need to have in my EPF account?
You must have a minimum balance of RM100 in your Account 1 to maintain your EPF membership and qualify for benefits like disability assistance and death assistance.
6. Can I change my withdrawal amount after I have submitted my application?
No, amendments on the withdrawal amount are not allowed after your application is submitted.
7. Does the i-Citra withdrawal take precedence over other types of withdrawals?
Yes, the i-Citra withdrawal will take precedence over other types of withdrawals in running, except i-Sinar and the housing loan monthly instalment withdrawal.
8. Do I have to replenish my accounts?
If accessed, you will only have to replenish the savings in Account 1, meaning that all new contributions will go to Account 1 first.
In a statement from EPF, i-Citra was created in response to the challenges that EPF members are facing
It was developed after careful consideration of how to best assist affected members while staying true to the EPF mandate.
EPF has also advised members to be prudent with their spending. In an article by The Edge, many members have emptied their accounts, with 6.3 million people having less than RM10,000 in their Account 1.
Dato' Seri Amir Hamzah Azizan, CEO of EPF, said in an interview with The Edge, that it's concerning that 42% of the total EPF membership has less than RM10,000.
"If you look at Account 2, which is the amount set aside where members can access in certain instances, 9.3 million people have less than RM10,000. So, they've used their emergency funds. From the EPF's perspective, it is important to bring people back to focus on their retirement funds in the future," he continued.
For further information, members may refer to the EPF website, or contact the i-Citra Hotline at 03-8922 4848
