Hundreds throng EPF office in Kuching to apply for Account 3
KUCHING: It was a hectic morning at the Employees Provident Fund (EPF) Kuching office yesterday, where hundreds of contributors came to apply for the one-off transfer from their Account 2 into the newlylaunched Account 3.
The third account, also known as ‘Akaun Fleksibel’, is part of the restructuring exercise implemented by the EPF where now, every contribution from the members is distributed between three accounts, each with its own function.
Account 1, now known as ‘Akaun Persaraan’ (retirement) accumulates savings that are meant to become the income for one’s retirement; Account 2, or ‘Akaun Sejahtera’ (Wellbeing), serves to accommodate the needs related to a contributor’s wellbeing such as healthcare; while ‘Akaun Fleksibel’ offers flexibility for short-term financial needs.
The restructuring was announced by the retirement fund manager last month.
At the Kuching office yesterday, EPF officer Nur Ezzati, 30, had her hands full in helping the contributors file their applications for ‘Akaun Fleksibel’.
“There could be more than 500 people today, mostly those wanting to apply for the one-off transfer.
“However, the withdrawal or transfer would only start next week,” said told The Borneo Post here.
One of the EPF contributors, Christopher Fernando, said the process was relatively smooth.
“It only requires my MyKad and phone numbers to register for the account,” said the 23-yearold restaurant waiter.
However, another EPF member who identified herself only as Hafizah, thought it would have been much better if the office had provided a kiosk or two, which should speed up the process.
Asked about her reason in applying for the transfer into ‘Akaun Fleksibel’, she said she needed money to repair her car.
“I got into an accident recently, so I need to fix the car.
“Hopefully, the extra cash could help cover the cost of repairs,” said the 30-year-old food and beverage manager, who came to the office with her husband.
Yulus Yumis, 55, a mechanic, regarded the third account as the ‘emergency fund’, which could be withdrawn to cover immediate short-term needs, such as the children’s school fees.