Dream home through EPF's e-Pengeluaran facility

KUALA TERENGGANU: The services provided by the Employees Provident Fund (EPF) for its contributors have evolved to suit current changes and expectations, among which is the e–Pengeluaran facility.
“For me saving in EPF is not just for financial security in old age. When I am ready to buy a house, EPF will help facilitate the process for me,” said Ku Nur Madihah Ku Yaacob, 34.
The public higher education institution administrative officer noted that EPF had made it flexible for contributors to withdraw from Account 2 for payment of housing loan installments through the e–Pengeluaran facility but she opted not to do so.
“Maybe many friends out there prefer this approach to get their dream house quickly. I will be patient and get mine when I retire as the money is with the government and in safe hands.
“The main thing is, I have sufficient savings there to get that dream house for myself and my family when I retire,” she told Bernama here.
She intends to utilise the rest of her EPF savings for other purposes such as her children’s education, and long–term investments.

The e–Pengeluaran facility is about online withdrawal through EPF’s website for i–Akaun holders intending to buy/build a house; reduce/settle housing loan; and pay their housing or education loan installments.
EPF earlier announced that members who had housing loans with RHB Bank and Maybank could send their withdrawal applications online through e–Pengeluaran.
At the same time RHB Bank also encouraged contributors with a sufficient amount in their Account 2 to use EPF’s e–Pengeluaran service to reduce their monthly housing loan repayment commitment.
Meanwhile, shipping marketing officer Mohd Safuwan Mohd Saidi, 27, said the e–Pengeluaran facility provided by EPF allowed young contributors like him to own a house more easily and speedily.
He said working youths who are struggling with various debts, which prevented them from buying their own home until they retire, should take advantage of the e–Pengeluaran facility.
“At the moment, the price of houses is fluctuating; it is usually determined by the location and influenced by the economic situation. I am planning to buy one before the price shoots up again so I guess I’ll be withdrawing some money from my second account to pay the monthly payments.
“At least, by the time I retire, half of the loan on the house would have been repaid and I can use the rest of my savings to buy another house as an investment,” he said. — Bernama