PUTRAJAYA, April 12 — A total of 59,230 contributors have applied for Employees’ Provident Fund’s (EPF) Account 2 Support Facility (FSA2) as of yesterday since it opened...
PUTRAJAYA, April 12 — A total of 59,230 contributors have applied for Employees’ Provident Fund’s Account 2 Support Facility as of yesterday since it opened on April 7, with only 27,705 eligible, said Deputy Finance Minister Datuk Seri Ahmad Maslan.
FSA2 is a facility that aims to help EPF members obtain personal financing from banking institutions. So far, two banks are participating in FSA2 namely MBSB and Bank Simpanan Nasional.Among the stipulated conditions is that the applicant must have a minimum amount of RM3,000 in EPF Account 2. “We don’t say that if we don’t allow it, then there will be no withdrawal from EPF. The EPF funds can still be withdrawn. There are five areas for a member to withdraw from EPF Account 2 while Account 1 is not allowed to be withdrawn because it is specifically for retirement purposes,” he said.
Meanwhile, Ahmad said as of Dec 31, the total assets and liabilities that have been accounted for in the Federal Government’s Integrated Financial Management and Accounting System amounted to RM2.85 trillion.
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