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Understanding the New EPF Account Restructuring



The Employees Provident Fund (EPF) has recently announced significant changes to its account structure. In this post, we’ll delve into the details of the restructuring and explain how it impacts EPF members. Whether you’re a current EPF contributor or planning to join, this guide will help you navigate the new system.


The Three New EPF Accounts


The EPF account restructuring introduces three distinct accounts:


Akaun Persaraan (Retirement Account):

Purpose: To accumulate savings specifically for retirement income.


Key Features: Contributions made here will serve as a financial cushion during retirement.


Recommendation: Allocate a significant portion of your contributions to this account.


Akaun Sejahtera (Wellbeing Account):

Purpose: Address life cycle needs that contribute to overall wellbeing during retirement.


Key Features: Savings in this account can be used for various life events, such as healthcare expenses, education, and housing.


Recommendation: Contribute a portion of your earnings to this account to ensure holistic financial planning.


Akaun Fleksibel (Flexible Account):

Purpose: Provide flexibility for short-term financial needs.


Key Features: Savings in this account can be withdrawn at any time according to members’ requirements.


Recommendation: Use this account for emergencies or unexpected expenses.


Contribution Allocations

Starting from 11 May 2024, EPF contributions will be allocated as follows:

  • 75% into Akaun Persaraan

  • 15% into Akaun Sejahtera

  • 10% into Akaun Fleksibel


Transfer Option

Between 11 May 2024 and 31 August 2024, EPF members will have a one-time option to transfer part of their savings balance from Akaun Sejahtera (previously Account 2) to Akaun Fleksibel. This initial transfer allows members to adapt to the new system gradually.


The EPF account restructuring aims to enhance financial planning and provide flexibility for members. As you navigate these changes, consider your long-term goals and allocate your contributions wisely across the three accounts.

Stay informed, plan ahead, and secure your financial future with the new EPF account structure!

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