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EPF Withdrawal Scheme - Coggle Diagram
EPF Withdrawal Scheme
Health w/d
Benefits
- W/d from savings of acc 2
- medical expenses incurred for the treatment of critical illness
- or to buy medical equipment which approved by EPF board members for:
i) yourself
ii) family members
Qualifying conditions
- citizenship
i) M'sian citizen
ii) Non-M'sian citizen
- become EPF member b4 1/8/1998
- obtained PR
iii) Age
- not reached 55 at the time EPF receives your application
iv) EPF saving - still have in acc 2
Category of illness
- cancer
- cardiovascular system
- mental illness
Can make a joint withdrawal with other family membersCan choose any amount from Acc 2 subject to the cost of medical treatment
-
Expenses allowed
- Allowed Medical Expenses:
- include all charge by hospitals/ medical centre
- Medical aid equipment
- medical support equipment
- approved by EPF
- Medical report/ bills
- receipts not exceeding 1 year
- receipts must be in the name of applicants/ patient
W/d amount eligibility
- All of savings in acc 2/ actual medical cost
- If employer cover your parts in medical cost, amount can be w/d:
- remaining balance for medical cost
- Joint application
- applied amount
- respective applications saving in acc 2
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Incapacitation w/d
Benefits
- w/d all when capacitated physically/mentally to work
- achieved level of Maximum Medical Rehabilitation (MMI) to work to help earn
- RM5, 000 for once
Qualifying conditions
- citizenship
i) M'sian citizen
ii) Non-M'sian citizen
iii) Age
- not reached 55 at the time EPF receives your application
iv) EPF saving
- no longer employed at the time withdrawal made
Other eligibility conditions:
- been confirmed incapacitated, mentally, physically
- achieved level of MMI
- medical doctor had examined which appointed by EPF board
Death w/d
Benefits
- nominees/ administrators is allowed to w/d savings in the event of member's death.
Qualifying Conditions
- Status of nominee
- nominee for the deceased member's savings
- no nomination made? you are the administrator/ next of kin of member's savings
- Relevant documents
- main documents (withdrawal form)
- supporting documents (death certificate)
Nomination
explanation
- What is nomination
- appointing individual/ institution to oversee your EPF savings
- Importance
- cut short w/d process
- avoid hassle in hiring third party
- ensure rightful inherits your savings
- Who can nominate?
- anyone
- Amanah Raya Berhad
Death Benefits
Qualifying Conditions
- Status of nominee
- Deceased member's widow/ widower
- Deceased member's children
- Deceased member's father/ mother
- Age of deceased member
- not reached 55 at the time of death
- Duration
- received within 6 moths from the date of the member's death
- Savings
Amount
- RM2,500 only once to deceased member's dependent
Benefits
- paid by EPF to any one of the following dependents of the deceased member at EPF/s discretion
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