PETALING JAYA: EPF members under the age of 55 have withdrawn a total of RM10.78 billion from their Account 3, also known as the Flexible Account, according to the finance ministry.
In a written parliamentary reply, the ministry said this involved 3.86 million contributors, or 29.4% of those under 55.
“Funds in this account can be withdrawn at any time for any purpose according to the member’s needs, especially during emergencies,” it said, according to Bernama.
The ministry said Account 3 also helped improve the cash flow of contributors, and provided crucial assistance for those facing circumstances where additional funds were urgently needed.
It was replying to Wan Saiful Wan Jan (PN-Tasek Gelugor), who asked the ministry to explain the effectiveness of EPF Account 3.