Withdrawal from EPF Account 2 allowed to rebuild houses

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KUALA LUMPUR: Employees Provident Fund (EPF) contributors whose homes were affected by the recent floods are allowed to withdraw their savings from Account 2 to rebuild their house or buy a new one.

EPF, in a statement here, said they had a choice to make a housing withdrawal based on the current procedure of EPF.

“For members who have never made a housing withdrawal and wish to rebuild their house destroyed by the floods can do so by making an application for withdrawal to Buy/Build House.

“The withdrawal is allowed if the first house had been sold or there was a disposal of ownership,” said the statement.

According to EPF, disposal of ownership means losing a house owned via an EPF withdrawal previously due to several reasons including the house having been destroyed by a natural disaster or a fire, abandoned housing project or cancellation of the purchase of the house.

To qualify for a withdrawal to build a second house, contributors must get a confirmation letter from the local council or village head that their house which was bought or built via EPF housing withdrawal was destroyed in the floods.

“EPF will conduct an evaluation to confirm the amount needed to buy or rebuild their house and check the balance in the members’ Account 2.

“The right to make a withdrawal is subject to the other stipulated terms and conditions,” said the statement.

For further information, members can visit any EPF branch or surf the EPF website at www.kwsp.gov.my or contact the EPF Call Centre at 03-89226000. — Bernama