EPF reaffirms PR1MA new financing scheme is for first withdrawal

KUALA LUMPUR (Oct 21): The Employees Provident Fund (EPF) reaffirmed today that a facility will be introduced for members who meet Perumahan Rakyat 1Malaysia's (PR1MA) eligibility criteria.

However, the pension fund further explained that the scheme is only limited to members making EPF housing withdrawal for the first time.

"Members must be aware that upon choosing this facility, all other pre-retirement withdrawals under Account 2, namely the medical, education, age 50 and Haji withdrawals, will no longer be available until full settlement of the PR1MA loan has been made," EPF said in a statement.

The EPF said it is working with PR1MA, Bank Negara Malaysia and the participating banks to finalise the implementation details, which will be announced in due course.

"Once the details have been finalised, members are encouraged to seek advice from the EPF's Retirement Advisory Services to assist in making an informed decision, prior to choosing this facility," it added.

Earlier, the Prime Minister Datuk Seri Najib Razak announced that the government will introduce a new PR1MA end-financing scheme initiative, in view of the high loan rejection rate.

EPF said members may also refer to PR1MA's website at http://www.pr1ma.my or PR1MA's call centre at 03-7962 4374 to inquire further details. — theedgemarkets.com

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