PETALING JAYA: The majority of Employees Provident Fund (EPF) members eligible to make withdrawals from their Akaun Fleksibel chose not to do so up to October last year.<\/p>\n
EPF’s research report “Enduring Today, Shaping Tomorrow: Akaun Fleksibel as a Financial Lifeline for Wellbeing” stated that about 63% or 8.4 million people have left the funds in the account untouched.<\/p>\n
It said that 44% had sufficient balance in the account while 56% were unable to withdraw their money because of insufficient balance.<\/p>\n
“About 37% or five million members have made at least one withdrawal between May 2024 and October last year.<\/p>\n
“The total amount was about RM16.6bil,” it said, adding that there were about 13.3 million eligible members.<\/p>\n
“About 4.1 million people have also transferred a total of RM14.5bil from their Akaun Sejahtera to Akaun Fleksibel during the one-time option for fund transfer between May 11 and Aug 31, 2024.<\/p>\n
“And by October last year, 81% of those who made withdrawals had less than RM500 left in their Akaun Fleksibel, while 6.2% had fully depleted their balances,” it said.<\/p>\n
Akaun Fleksibel was launched in May 2024 to allow members to withdraw their funds at any time, provided they have a sufficient amount.<\/p>\n
The report also indicated that members earning below RM3,000 per month accounted for the largest proportion of withdrawals at 51.1%.<\/p>\n
It said the withdrawals were made in small amounts for urgent needs.<\/p>\n
“A survey found that withdrawals by 14,204 members from Akaun Fleksibel between May 2024 and June 2025 were largely for essential needs.<\/p>\n
“These included daily necessities, health-related expenses, emergencies, debt and investment obligations, and seasonal or lifestyle spending,” it added.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"PETALING JAYA: The majority of Employees Provident Fund (EPF) members eligible to make withdrawals from their Akaun Fleksibel…\n","protected":false},"author":2,"featured_media":598490,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[249822,64,63,99,80237,35787,186,184,185,107642,71105],"class_list":{"0":"post-598489","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-akaun-fleksibel","9":"tag-au","10":"tag-australia","11":"tag-business","12":"tag-employees-provident-fund","13":"tag-epf","14":"tag-finance","15":"tag-personal-finance","16":"tag-personalfinance","17":"tag-research-report","18":"tag-withdrawals"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/598489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=598489"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/598489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/598490"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=598489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=598489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=598489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}