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EPF Account 3: All you need to know


KUALA LUMPUR: The Employees Provident Fund (EPF) has just announced EPF Account 3 for members under the age 55, which allows for withdrawal anytime, for any purpose.

The much-awaited announcement on Account 3 also came with a one-time offer to transfer part of the monies from Account 2 into Account 3.

First of all from May 11, all monthly contributions for EPF will be distributed into three accounts instead of two previously.

According to EPF, 10 per cent of your monthly EPF contribution will go to Account 3, 15 per cent to Account 2 and 75 per cent will go to Account 1.


Along with that, Account 1 will be renamed Akaun Persaraan, Account 2, Akaun Sejahtera and Account 3 Akaun Fleksibel.

To start off, Account 3 or Akaun Fleksibel will have zero balance.


Between May 11, 2024 and August 31 2024 however, EPF members will have a one time option to transfer part of the savings in Account 2 into Account 3.

If you opt-in and have more than RM3,000 in Account 2, 33 per cent of the monies will go to Account 3, and 17 per cent will go into Account 1. The remainder will be retained in Account 2.


If you opt-in and have less than RM3,000 in Account 2, only up to RM1,000 will be transferred into Account 3. No transfer will be made to Account 1.

Opt-in applications can be submitted through the KWSP i-Akaun application or the Self-Service Terminals at any EPF branches nationwide.

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