A Day at KWSP

Is it Still Solid?

I had the chance to visit  EPF  or KWSP (in Bahasa) this afternoon.

At my age only one thing was on my mind--withdrawal.

Possibly to review my nomination as well.

First off-nomination.

Instead of a card, they have a form now and your nomination and signature must be witnessed.

So EPF is playing safe on this aspect.

The second matter-the withdrawal of EPF savings.

Interestingly, it is paperless.

All you need to do is to present yourself to one of the EPF officers who will discuss your request and then remit the funds as you like;either monthly or in larger sums or even one lump sum.

The minimal withdrawal per month will be RM 2,000 and it will be remitted directly to a nominated bank account of your choice.

If every thing is in order, you can get your funds within 3 days. Otherwise, if there is some problems (especially thumb-print issues), you would get it within a week.

This monthly withdrawal is a good option as whatever funds left will still be entitled to dividends to be paid out.