Selangor Journal

KWSP account 2 to settle study loan

BY LIZAWATI MADFA
SHAH ALAM, JUL 6: Over 70,000 Employees Provident Fund (EPF) contributors can use their Account 2 to settle the balance of their study loans, effective this July 21.
The EPF Chief Executive Officer (Operation), Datuk Mohd Naim Daruwish said, that is one of the improvements under the Education Withdrawal Scheme to replace the current withdrawal conditions.
He said, it applies to all regardless of the effective date of the loan.
“The improvements are made after considering feedback from EPF members who find it difficult to settle their study loans using their EPF funds.
“Before making withdrawals, members are encouraged to get free retirement advise at any of our 18 service counters throughout Malaysia for the best type of withdrawals to suit them,” he said in a statement.
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Prior to this, the requirement to settle the balance of education fund for member’s children at undergraduate level and above, and equivalent to it is limited to loans effective April 1, 2000 and to settle loans for members at diploma level and above, and equivalent to it is limited to loans effective January 2, 2001.
At the same time, the condition to settle member and their children’s loan for diploma level and above, and equivalent to it is linmited to loans effective January 17,2006.
Effective immediately, EPF members can also submit the for 9B (AHL) to apply for withdrawal for 50-years old or full withdrawal or partial withdrawal for 55-years old and 60-years old, a month before their birthdates as compared to six months as previously required.
For more information, the public can contact the EPF Relationship Management Centre at 03-89226000 or visit the EPF website at www.kwsp.gov.my or visit our branches across the country.

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