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If you have over RM1 million in your Employees Provident Fund (EPF), the rules for withdrawing excess funds are about to change
Under the new regulations, members below age 55 will need to maintain higher minimum balances before any withdrawals can be made, with thresholds gradually rising from RM1.1 million in 2026 to RM1.3 million by 2028.
Members under 55 can only withdraw funds that exceed these annual thresholds:
- 2026: Minimum balance of RM1.1 million must be maintained before withdrawals.
- 2027: Threshold rises to RM1.2 million.
- 2028: Threshold reaches RM1.3 million.
"Overall, these adjustments reflect EPF's commitment to balancing flexible access with the long-term protection of members' savings, in line with the cost of living," the fund said.
The changes are part of the Retirement Income Adequacy (RIA) framework, which aims to help Malaysians save enough to secure a comfortable retirement while still allowing access to surplus funds.
What this means for you
If your EPF savings exceed RM1 million, you'll need to plan withdrawals carefully to avoid dipping below the new minimums.
The phased increase gives members time to adjust and manage finances without sudden disruptions.
EPF is prioritising retirement security over immediate liquidity for high-balance accounts, helping ensure long-term financial stability.
The fund said the new rules are part of ongoing efforts to protect members' retirement savings while still allowing access to excess funds. Members are encouraged to review their accounts and consider adjusting withdrawal plans accordingly.
