{"id":3785,"date":"2020-05-03T21:39:32","date_gmt":"2020-05-03T13:39:32","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=3785"},"modified":"2020-05-03T21:39:32","modified_gmt":"2020-05-03T13:39:32","slug":"i-lestari-payouts-to-begin-tomorrow-epf","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=3785","title":{"rendered":"i-Lestari payouts to begin tomorrow &#8211; EPF"},"content":{"rendered":"<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<p>KUALA LUMPUR, May 3\u00a0 &#8211; The crediting of approved i-Lestari Withdrawals into members\u2019\u00a0 bank accounts will begin from tomorrow until May 18, says the Employees Provident Fund (EPF).<\/p>\n<p>In a statement today, the EPF said members will be informed, via the i-Lestari Online facility, as soon as the\u00a0fund\u00a0transfer to their active bank accounts is successfully done.<\/p>\n<p>It said the actual date when the money is\u00a0available for withdrawal from bank accounts will be subject to the respective bank\u2019s clearance procedures ranging from one to three days from the date of transfer from the EPF.<\/p>\n<\/div>\n<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<div class=\"mx-auto mb-4\">\n<div id=\"jssor_1413140235136\" data-jssor-slider=\"1\">\n<div data-scale-ratio=\"1\">\n<div data-u=\"slides\">\n<div>Chief executive officer Tunku Alizakri Alias said more than 3.51 million applications have been approved totalling over RM1.66 billion since\u00a0the launch of i-Lestari in early April.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The EPF has\u00a0been working with its partner banks to ensure their systems and infrastructure are ready to receive and correctly process such huge amounts of deposits at any one time.<\/p>\n<p>\u201cAs a result, it was agreed that daily transfers by batches from the EPF to the respective financial\u00a0 institutions is the safest and best method.<\/p>\n<\/div>\n<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<div class=\"mx-auto mb-4\">\n<div id=\"jssor_500665276137\" data-jssor-slider=\"1\">\n<div data-scale-ratio=\"1\">\n<div data-u=\"slides\">\n<div>\u201cInshaAllah, we anticipate the whole process will be concluded within two weeks if not sooner,\u201d he said.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Alizakri said the EPF understands the urgent cash requirements needed to get through the current challenging times, even though the pension fund is\u00a0concerned the i-Lestari Withdrawals will substantially reduce members\u2019 retirement savings.<\/p>\n<p>\u201cWe hope our members have thought deeply before deciding on the amounts to be withdrawn from their Account Two\u00a0as they will need to balance their present cash needs with ensuring a solid financial future.<\/p>\n<\/div>\n<div class=\"col-sm-12 col-md-12 col-lg-12 mt-4 px-sm-0 px-md-5 px-lg-15 text-dark text-justify\">\n<p>\u201cOnce the movement control order is lifted, we urge our members to make an appointment with our Retirement Advisory Services officers who will assist to review and restructure their retirement plans,\u201d he said.<\/p>\n<p>&#8211; BERNAMA<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR, May 3\u00a0 &#8211; The crediting of approved i-Lestari Withdrawals into members\u2019\u00a0 bank accounts&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7574,17],"tags":[532,9627,9628],"class_list":["post-3785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-covid19","category-economy","tag-epf","tag-i-lestari","tag-tunku-alizakri-alias"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.9 (Yoast SEO v27.9) 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