Tuesday, May 30, 2017

Withdrawal from kwsp/epf

First there are a few stages to withdraw. Here we only start withdrawal process after bank loan secured and paid 10% down payment for our secondary purchase.

1. Request a kwsp format loan statement at your bank by walk-in application. For Maybank we don't need to bring any specific doc except to verify with our ID. This one takes about 5-10 days processing time. Please make sure the statement has a bank seal (round chop).



2. Bring this document to kwsp branch, in my case I choose Kajang jln Reko branch. You can also print your latest statement and bring along. No need any form filling.



Link

At this point, I took number and went to counter. The bank statement check is the one that stumped me, as the lady in charge politely tells it needs a bank round seal stamping. There is no space or writing stating it's needed but it's what kwsp checked.

So I took a detour to nearest jalan tukang Maybank and luckily the person in charge helped out by stamping on behalf. Take another trip back, no need to take number this time, just approach the lady that served me just now and we are done after fingerprinting her receipt document and giving me a customer copy. I need to give Maybank a call on how to handle kwsp's dis bursement. Pretty strange huh...

Anyway, for first time epf withdrawal we just need kwsp format bank loan statement and current own kwsp statement. If you didn't print the statement, it's available at kwsp branch, just login to the kiosk machine and print a copy with help of a staff of course.

For second time withdrawal , we can apply it online via kwsp's i-akaun. So it's pretty convenient, but after this lump sum withdrawal my account 2 will be quite dry for a while..



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