Opportunity for EPF contributors to buy high-end houses

KUALA LUMPUR: From Aug 1, Employees Provident Fund (EPF) contributors who have not made withdrawals for buying houses or to reduc
their housing loans, will have the chance to purchase costlier houses under the Fund's Flexible Housing Withdrawal scheme.

EPF chief executive officer Tan Sri Azlan Zainol said on Thursday July 29, the facility was introduced to give contributors a higher pruchasing power.

"This effort is to support the government's objective to improve the quality of life of the people in line with the 1Malaysia concept. EPF members will now have the chance to realise their dreams of owning better homes as the quantum of withdrawal is much higher," he said in a statement.
 
He said the new scheme would not affect contributors' retirement fund and the account for the new scheme which would be kept separate, would continue to earn EPF's annual dividends.

Contributors below the age of 54 are eligible for the facility. More details can be obtained from the nearest EPF branch or by calling EPF's call centre at 03-89226000 or visiting the myEPF website at www.kwsp.gov.my.-- Bernama