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EPF i-Akaun Usage Increased 101.27 Pct In Q2

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KUALA LUMPUR – The usage of i-Akaun, an online facility to check Employees Provident Fund (EPF) savings, increased by 101.27 per cent to 3.33 million in the second quarter of 2015(Q215) ended June 30.

The EPF said the number of members logging into the service surged 62.47 per cent to 4.93 million from 3.04 million in the corresponding period last year.

Chief Executive Officer Datuk Shahril Ridza Ridzuan said the increase in EPF’s electronic service was a result of members’ increasing awareness of the online facility’s convenience in checking their statements and updating profiles without having to be present at branches for the purpose.

“For members who have yet to register for i-Akaun, we encourage them to do so as the EPF is actively enhancing operational efficiencies to serve our members anytime, anywhere,” he said in a statement.

Moving forward, Shahril said EPF’s operations would see less resource-intensive transactions with members and partners, and more on delivering speedier service and convenience.

Meanwhile, a total of 80,890 applications for Flexible Age 55 Withdrawal were approved during the quarter, an increase of 36.23 per cent from the corresponding quarter in 2014 of 59,379,865.

The amount withdrawn under the Flexible Withdrawal facility amounted to RM3.12 billion, compared with RM1.81 billion in the same quarter of 2014.

As at June 30, 2015, the total EPF membership stood at 14.36 million, of which 6.72 million are actively continuing to contribute to their retirement savings.

The total number of EPF members was an increase of 2.22 per cent from 14.05 million in the Q2 last year. – BERNAMA

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