Planning on using your EPF to pay for your education? You can now do it online with e-Pengeluaran
by StudyMalaysia.com on April 29, 2016 | Top Stories
If you are an Employees Provident Fund (EPF) contributor and plan on using your EPF funds to finance your own or your children's education at local higher learning institutions (HEIs), you can now submit your withdrawal applications online using e-Pengeluaran.
Introduced in 2013, the e-Pengeluaran facility started with limited housing withdrawals. Now, EPF members with an i-Akaun can make withdrawals for education at these financial institutions: RHB Bank, RHB Islamic, Maybank, Bank Islam, Oversea-Chinese Banking Corporation (OCBC), Bank Simpanan Nasional (BSN), Ambank and United Overseas Bank (UOB).
The e-Pengeluaran facility allows members to check the amount entitled for withdrawal for a particular scheme and facilitates the crediting of the approved amount directly into the member's or participating bank's account.
There are currently 10 higher learning institutions being assessed for integration with e-Pengeluaran, of which three institutions, namely International Islamic University Malaysia (IIUM), Multimedia University (MMU) and Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN), have been confirmed.
e-Pengeluaran is available to all members with i-Akaun. You can register for i-Akaun by contacting the EPF Call Management Centre at 03-8922 6000 or via EPF kiosk or by visiting any EPF branches or via an EPF Mobile Team.
Quick facts on using e-Pengeluaran to pay for your education
- To use the e-Pengeluaran facility, you’ll need to register for i-Akaun
- e-Pengeluaran can be used to pay for your own education or your child’s education
- e-Pengeluaran can only be used to pay for studies at selected local HEIs only; however, the list of approved HEIs is expected to be expanded
- The student must be enrolled at a local HEI for a full-time, part-time, distance learning or listed franchise course
- Application for the e-Pengeluaran withdrawal can be used to pay for charges incurred by the HEI including accommodation fees and one way flight cost during first year registration
- The e-Pengeluaran withdrawal can be done anytime as long as there is sufficient balance in Account 2 (subject to EPF withdrawal terms)
Do you have more questions? Read the KWSP’s FAQ page on e-Pengeluaran here.
Sources for this article include:
- Employees Provident Fund, e-Pengeluaran for education withdrawal,
- The Star Online, EPF: Online withdrawal facility now available for education loans,