EPF approves 2.5m i-Sinar applications worth RM19.6b

by S BIRRUNTHA / graphic by MZUKRI MOHAMAD

THE Employees Provident Fund (EPF) has approved a total of 2.5 million out of a total of 3.88 million applications for the i-Sinar scheme as of Jan 4.

The current total approved withdrawal amount is RM19.62 billion, with the first month’s payout amounting to RM10.07 billion to be made in stages beginning Tuesday.

The scheme has been opened for submissions under Category 1 since Dec 21, 2020.

According to EPF, a majority of the remaining 1.4 million submissions which have yet to be approved, falls under the criteria outlined under Category 2, which will open for submissions from Jan 11.

EPF stated in a press release that members who fall under Category 2 are advised to start preparing relevant documents such as official payslips which details total salaries including overtime and commissions, and/ or bank statements, for uploading on i-Sinar Online.

“To ensure a smooth and speedy application process, members must ensure all supporting documents submitted are clear, valid, and accurately support their application,” the statement read.

Out of the total 3.88 million applications received, 701 were not approved due to various reasons. The reasons include non-matching of bank account numbers, applications made on behalf of deceased members, or members being able to make total withdrawals from Account 1 under the existing 55 years old facility.

Additionally, the fund has further assured members to put in place measures to prevent irresponsible third parties or scammers from making fake submissions and posing a danger to members’ hard-earned retirement savings.

“The EPF strongly advises members to avoid sharing photos or documents of their i-Sinar submissions or withdrawals on social media, as this would expose them to potential scams and fraudsters,” it noted.

Taking into consideration the current Covid-19 pandemic, all applications of i-Sinar are only done online via isinar.kwsp.gov.my, and members are not required to physically visit any of the EPF’s branches.

Applications for i-Sinar will remain open until June 30, 2021.


Read our earlier report

EPF approves 2.5 mil i-Sinar applications worth RM19.6 bil

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EPF approves 2.5m i-Sinar applications worth RM19.6b