Budget 2017: EPF Introduces Facility for Members for PR1MA New End-Financing Scheme
Following the Budget 2017 announcement by Y.A.B. Prime Minister Datuk Seri Najib Razak on the PR1MA New End-Financing Scheme initiative, the Employees Provident Fund (EPF) confirms that a facility will be introduced for members who meet PR1MA’s eligibility criteria and are 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 Hajj withdrawals, will no longer be available until full settlement of the PR1MA loan has been made.
The EPF 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 (RAS) to assist in making an informed decision prior to choosing this facility.
Members may also refer to PR1MA’s website at http://www.pr1ma.my or PR1MA’s call centre at 03-7962 4374 for more information about this scheme.