KUALA LUMPUR (Feb 18): Employees Provident Fund (EPF) members below the age of 55 who have applied for the i-Sinar withdrawal facility will be given approval beginning March 8. In a statement today, EPF said the approval includes new applications received after that date, subject to their available Account 1 balance. The removal of the i-Sinar withdrawal criteria means that the interim payment of RM1,000 implemented last month will be effectively stopped. It said amendments to the i-Sinar facility as announced on Feb 11, 2021, involves substantial changes to the system, process, and governance required for i-Sinar Online. About RM18.5 billion has been released under the i-Sinar facility since applications opened last December, benefiting 3.3 million members.

Source: The Edge Markets February 18, 2021 13:07 UTC