4 INVESTMENT WITHDRAWAL ( ACC 1 ) This scheme allows members with more than RM55,000 in their Account I (Retirement Account) toinvest a portion of their savings in fund management companies approved by the Ministry of Finance.The minimum amount that can be invested is RM1,000.How much can you withdraw?An example (For first time withdrawals)Case I (RM) Case II (RM)Balance in Account I , ,000Total savings above RM50,000 in Account I (Y) 50, ,00020% x (Y) ,000 1,000Amount allowed for investment 10,000 1,000New balance in Account I 90, ,000A member can withdraw for a second time, three months after the first withdrawal.In the above case, the member in Case II cannot withdraw since his balance of RM54,000 isbelow the required RM55, However, the member in Case I can still withdraw money toinvest in the unit trust.The amount that can be withdrawn is shown below:Balance in Account I 90,000Total of savings amounting to more than 40,000 (90,000-50,000)RM 50,000 in Account I (Y)20% x (Y) 8,000Balance of account 82,000The amount that can be withdrawn by the member in Case 1 is RM8,000.00, and he or she can further withdraw20% every three months until his balance reaches RM55,000.
5 INVESTMENT WITHDRAWAL ( ACC 1 ) Approved Fund Managers1. Mayban Investment Management Sdn Bhd2. OSK-UOB Unit Trust Management Berhad3. Kuala Lumpur Mutual Fund Berhad4. Amanah Saham Sarawak5. Perdana Merchant Bankers Berhad6. SBB Unit Trust Management Berhad7. MIMB Aberdeen Asset Management Sdn Bhd8. HLB Unit Trust Management Berhad9.BHLB Asset Management Sdn Bhd10.MBF Unit Trust Management Berhad11.Asia Unit Trust Berhad12.Rashid Hussain Asset Management Sdn Bhd13.TA Unit Trust Management Berhad14.SBB Asset Management Sdn Bhd15.BHLB Pacific Trust Management Berhad16.Affin Fund Management Sdn Bhd17.AMMB Asset Management Sdn Bhd18.AMMB Investment Services Berhad19.ASM Mara Unit Trust Management Berhad20.Pacific Mutual Fund Berhad21.Bumiputra Merchant Bankers Berhad22.Lembaga Tabung Haji23.Permodalan BSN Berhad24.RHB Unit Trust Management Berhad25.Phillip Capital Management Sdn Bhd26.CMS Trust Management Berhad27.HLG Asset Management Bhd28.Mayban Management Bhd29.Apex Unit Trusts Berhad30.Commerce Trust Management Berhad31.Amanah Saham Nasional Berhad (ASN2)32.KAF Management Services Sdn. Bhd.33.ASM Asset Management Sdn. Bhd.34.DEXIA JMF Asset Management Sdn. Bhd.35.Metrowangsa Asset Management Sdn. Bhd.36.PAB Unit Trust Management Berhad
6 HOUSE PURCHASE WITHDRAWAL ( ACC 2 ) FIRST HOUSE30 % of the member's contribution is credited into this account. This scheme allows members towithdraw their funds for two purposes.Withdrawals to buy or build a houseWithdrawals to reduce or settle the balance of a housing loanMembers can withdraw the difference between the price of the houseand loan with an additional 10% of the price of the house or all thesavings in Account II by completing the KWSP 9C (AHL) form.An exampleCost of house RM 75,000Loan amount RM 60,000Difference between cost of house and loan amount RM 15,000Add 10% of cost of house RM 7,500Amount eligible for withdrawal RM 22,500Balance in Account II RM 18,000Amount which can be withdrawn RM 18,000In this case, the member can only withdraw RM 18,000, the balance he or she has in Account II.SECOND HOUSEProvided your first house under the house withdrawal scheme is sold.The purchase of your second house must be after 2nd Jan 2001.
7 REDUCE / REDEEMING HOUSE LOAN ( ACC 2 ) Members can withdraw money from Account II to service the residues of their housing loan.Withdrawals can be made every three (3) years.Who is qualified to apply?You can apply if:You have an outstanding balance of loan used to buy a house / shophouse and the mortgageon the house is the first mortgage You have not reached the age of 55 years during approval of the application.You don't qualify if:The application is for house renovation/ repair to your existing property For individual purchases, you are entitled to withdraw:All your savings in Account IIORThe balance of your housing loan, whichever is lower.For joint purchases, both parties can take out:All their savings in Account IIThe balance of their housing loan, whichever is lower.In this circumstance, EPF will process the application from Buyer I and if the savings isnot enough, then EPF will process the application from Buyer II.
8 Acc 2 REDUCE / REDEEMING HOUSE LOAN ( ACC 2 ) House Loan An example Cost of house RM 75,000Balance of Loan RM 31,500Savings in Account II RM 15,000Amount which can be withdrawn RM 15,000Members are allowed to withdraw from this scheme every three years from the dateof the first withdrawal from the same account. You will need to apply separately every timeyou wish to withdraw from this account by completing the KWSP 9C (AHL) form.Acc 2HouseLoan
9 EDUCATION WITHDRAWAL ( ACC 2 ) This scheme allows members to withdraw from their account II to pay the feesfor their children or themselves who further studies in any institutions locally or abroad. Level of EducationFor member : Diploma and above. For member's children : Degree and above.Amount eligible for withdrawalMembers may withdraw maximum amount of total fees or all balance in account II, which ever is lower.Member may apply for withdrawal on each academic year provided that there is balance in the account II.Mode of PaymentBasically, there are three modes of payment made by the EPF under this scheme. They are:the local institutions of higher learning.members* if member or their children are pursuing studies abroad or any payment made by the member,subject to the terms and conditions.the financial institutions to settle or reduce the balance of study loans taken up by members under certainconditions member or members' children currently studying in institutions of higher learning includingstudy loans under the name of the member or both member and their children's name.How to applyBefore a member can apply for withdrawal under this scheme, member is required to check the balance inaccount II and obtain a letter from EPF on how much amount allowed to be withdrawn. To obtain this letter,the following documents are necessary:letter of acceptance from the university or college for the member or member's children or letter ofregistration for subsequent years of study (for second year and following years).member identification card.copy of member's bank account book or Current Account Statement.Members can apply this scheme by completing form KWSP 9H (AHL) together with the relevant supportingdocuments.
10 COMPUTER PURCHASE WITHDRAWAL ( ACC 2 ) This scheme enables members to withdraw for purchasing personal computer for them or their children. Amount eligible for withdrawal Members can withdraw up to RM3, or balance in Account II, which ever is lower. For joint application, members can withdraw up to RM3, or total all balance in members Account II,which ever is lower. For joint application, members must submit application together. Joint application is only for those who are purchasing a personal computer for their children. ExampleFor individual application Quotation for personal computer RM 4,500Balance in account II RM10,000Amount eligible for withdrawal RM 3,500For joint applicationQuotation for personal computer RM 5,500Balance in account II RM 6,000Balance in account II RM 2,500The amount to be deducted in each account may be decided by the members provided that it is not exceedingthe balance of each account or the maximum amount for withdrawal (RM 3,500).Frequency of withdrawal and mode of payment Members are allowed to withdraw once under this scheme. Members who have withdrawn previously are noteligible to apply again.
11 50 AGE 50 YRS WITHDRAWAL ( ACC 2 ) Altera Service Award Members can withdraw the entire sum from this account at age 50 as a pre-retirement savings.The form to complete is KWSP 9B (AHL). 50AlteraService Award
12 MEDICAL WITHDRAWAL ( ACC 3 ) 10 % of the member's contribution is credited into this account. You can withdraw from thisaccount for medical costs of critical illnesses. This withdrawal can be used to cover spouse,children, siblings and parents. There is a list of critical illnesses that qualifies for withdrawal.The amount which qualifies for withdrawal is:All the savings in Account III ORThe cost of treatmentAn exampleCost of medical treatment RM 10,000Savings in Account III RM 3,000Amount which can be withdrawn RM 3,000Since the savings in Account III is only RM 3,000, the membercan take out that amount to supplement the bill.The form to complete is KWSP 9D (AHL).