Do You Think EPF Akaun 3 Is Necessary?

The Employees Provident Fund's much-awaited Account 3 is expected to comprise 10 per cent of future monthly contributions that account holders can withdraw at any time.

Currently, 70 per cent of members' monthly contributions are channelled into Account 1, which cannot be accessed until after retirement. The other 30 per cent goes into Account 2, which can be accessed to pay for education, healthcare and housing, as well as a partial one-time withdrawal at age 50.

The introduction of Account 3 comes after four Covid-19 pandemic-related withdrawal programmes drained RM145 billion from EPF.