Akaun Fleksibel (EPF’s New Account Structure): Key Info for Employers

Starting from May 2024, the Employees Provident Fund (EPF) introduced a major change in how members’ savings are managed. Instead of just two accounts (Account 1 and Account 2), members now have three: Akaun Persaraan, Akaun Sejahtera, and the new Akaun Fleksibel.

This restructuring aims to balance long-term retirement security with members’ short-term financial needs. Learn more about Akaun Fleksibel in this article below.

What is Akaun Fleksibel?

Akaun Fleksibel is a new account under EPF created specifically for members’ short-term financial needs. Unlike the other two accounts, savings in Akaun Fleksibel can be withdrawn at any time for any purpose, as long as the minimum withdrawal amount of RM50 is met.

EPF introduced this to give members flexibility during emergencies or urgent needs, while still encouraging careful financial planning so retirement funds remain sufficient.

Contribution Allocation to Akaun Fleksibel

Under the new structure, monthly EPF contributions are automatically divided into three accounts:

75% goes into Akaun Persaraan (previously Account 1) for retirement savings.
15% goes into Akaun Sejahtera (previously Account 2) for life cycle needs such as education or housing.
10% goes into Akaun Fleksibel, which members can withdraw from at any time.

This allocation applies to all contributions made after 11 May 2024. Balances from previous accounts remain in their respective new accounts and are not retroactively redistributed.

Initial Transfer to Akaun Fleksibel

When Akaun Fleksibel was launched, members were given a one-time option to transfer part of their existing balance from Akaun Sejahtera into Akaun Fleksibel as a starting amount. Members can have immediate access to funds without waiting for new contributions.

The transfer was optional and could only be done once between 12 May 2024 and 31 August 2024. Members who did not opt in, their Akaun Fleksibel started with a zero balance, growing only with future contributions.

Timeframe for Transfer from Akaun Sejahtera to Akaun Fleksibel

The transfer window mentioned above was limited to the initial rollout phase. After 31 August 2024, members can no longer transfer their old balances. Only new contributions are allocated according to the 75:15:10 split.

How to Transfer Funds to Akaun Fleksibel

During the initial transfer period, members could move funds via:

The KWSP i-Akaun app or member portal.
Self-Service Terminals (SST) at EPF branches.

Once submitted, the transfer request could not be cancelled, and processing typically took three to five working days.

How to Withdraw from Akaun Fleksibel

Withdrawals from Akaun Fleksibel are on-demand, meaning members can access their savings anytime as long as they meet the minimum withdrawal amount of RM50. The process is straightforward:

Log in to the KWSP i-Akaun app or member portal.
Select the withdrawal option for Akaun Fleksibel.
Submit the request online or visit the nearest EPF branch if applying manually.
Approved withdrawals are credited directly to the member’s bank account.

Unlike Akaun Persaraan and Akaun Sejahtera, which are locked until retirement age (55 or 60), Akaun Fleksibel is accessible before those milestones.

Who is Eligible to Withdraw from Akaun Fleksibel?

Both Malaysian and non-Malaysian EPF members can use Akaun Fleksibel, but there are conditions:

Must be below 55 years old.
Must have a balance of at least RM50 in Akaun Fleksibel.
Malaysians and permanent residents can apply online via i-Akaun, while non-Malaysians must apply manually at an EPF office.

How to Apply for Akaun Fleksibel Withdrawal

Applications are handled digitally or in person:

Online through the i-Akaun app or portal (fastest option).
Branch/SST by filling manual forms at EPF counters.

Members should check that they have transferred funds (if applicable) and meet the minimum balance before applying, as applications below RM50 will be rejected.

Channels for Withdrawal Application

EPF provides several channels for withdrawal applications:

KWSP i-Akaun (Member) web portal
KWSP i-Akaun mobile app
Self-Service Terminals (SST) or counters at any EPF branch

Why Some Withdrawals May Be Rejected

Applications are commonly rejected if:

The balance in Akaun Fleksibel is below RM50.
The member has not opted to transfer initial funds from Akaun Sejahtera (thus having no balance).
Incorrect or incomplete details are submitted during the application.

Employers can help employees avoid these mistakes by reminding them to check their account balance and eligibility before applying.

Approval Timeline

Processing times differ depending on the request:

Initial transfer: Three to five working days.
Withdrawal: Up to seven working days before funds are credited to the member’s bank account.

Summary of the EPF Account Restructuring Initiative

The introduction of Akaun Fleksibel is part of EPF’s broader account restructuring to improve retirement savings while meeting immediate life cycle needs. The three-account system (Persaraan, Sejahtera, and Fleksibel) provides clearer savings goals: long-term retirement, medium-term needs, and short-term emergencies.

This change means employees may have questions about contribution splits, withdrawal eligibility, and how this affects their future savings. Understanding these details will help HR teams provide accurate guidance.

Further Information

Employers and employees can find official guides and FAQs on www.kwsp.gov.my or by contacting the EPF hotline at 03-89226000. Branch visits are also available for face-to-face assistance.

FAQs

Is Akaun Fleksibel compulsory for all employees?

Yes. All EPF members automatically have this account as part of the new three-account structure.

Can employees still withdraw from Akaun 1 and Akaun 2?

Withdrawals from Akaun Persaraan and Akaun Sejahtera follow existing EPF rules, mainly at retirement age or under specific withdrawal schemes (like housing or education).

How much money can be withdrawn from Akaun Fleksibel?

Any amount, as long as it is at least RM50 and within the available balance.

Can employers help employees with the application process?

Employers can guide employees on how to use the i-Akaun portal and clarify eligibility, but applications are made individually.

Does Akaun Fleksibel affect retirement savings?

Yes. Withdrawals reduce overall EPF savings, so employees should consider long-term needs before using this option.

What should employers tell their staff about Akaun Fleksibel?

Highlight the benefits of flexibility, explain the 75:15:10 contribution split, and remind employees that responsible use is key to maintaining retirement security.

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