EPF’s e-services transactions more than double in Q2

PETALING JAYA: The Employees Provident Fund (EPF) saw the usage of its i-Akaun more than double to 3.33 million for the second quarter (Q2) of 2015 from 1.65 million in the same period last year.
“The increase in our electronic services was a result of members’ increasing awareness of the online facility’s convenience in checking their EPF statements and updating their profiles without having to be present at EPF branches for the purpose,” said EPF CEO Datuk Shahril Ridza Ridzuan in a statement yesterday.
In terms of the number of visitors to myEPF website, it grew 62.17% from 3.04 million to 4.93 million for the quarter under review.
Meanwhile, EPF said a total of 80,890 applications for Flexible Age 55 Withdrawal were approved for Q2, representing a 36.23% increase from 59,379.
The amount withdrawn under the Flexible Withdrawal facility amounted to RM3.12 billion for Q2, compared with RM1.81 billion a year before.
The total number of approved applications for members participating in the EPF Members’ Investment Scheme (EPF-MIS) increased 39.78% in Q2 to 151,666, compared with 108,503 in the corresponding quarter in 2014.
The amount of investment made during the quarter was RM1.55 billion, up 29.24% from RM1.20 billion in Q2, 2014.
As at June 30, 2015, total EPF members stood at 14.36 million, of which 6.72 million are active members who continue to contribute to their retirement savings.