The EPF has announced enhancements to the More Than RM1 Million Savings Withdrawal facility for 2024 under the Retirement Income Adequacy (RIA) Framework. This initiative forms part of a scheduled transition designed to support the long-term financial well-being of members.

These changes help ensure that your retirement savings remain sufficient to sustain a comfortable standard of living, in line with rising living costs and increasing life expectancy.

The withdrawal limit will be increased in phases over a three-year period. This gradual approach allows you more time to plan your finances effectively while safeguarding your long-term savings.