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EPF Akaun Fleksibel (Account 3): How to Transfer and Withdraw

BY Nisa Afiqah

Updated 24 May 2024

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You’ve probably heard the buzz about EPF’s new Account 3 (Akaun Fleksibel) for members aged 55 and below. It’s all about flexibility, letting you withdraw between RM50 and RM250 per day whenever you need it. Although Account 3 starts at zero, you can transfer funds from your Akaun Sejahtera (Account 2) to populate it, giving you easy access to your savings.

And here’s the best part — you don’t need to stand in those long, hot queues at the KWSP offices. Everything can be done online! Here’s how you can easily transfer your funds from the comfort of your home.

What's covered in this article?

Before diving into how to transfer your funds, let’s quickly break down the differences between the three EPF accounts: 

EPF Account Types Purpose Distribution Rates Access
Akaun Persaraan 
(Account 1)
Your main retirement savings. 75% Locked until retirement age to ensure a secure nest egg for your golden years.
Akaun Sejahtera
(Account 2)
More flexible for specific needs. 15%

Designed to help with major life expenses (subject to EPF terms and conditions).
Can be used for:

i.   Housing payment

ii.  Education costs

iii. Medical expenses

iv.Insurance/Takaful protection

v.  Hajj

Akaun Fleksibel
(Account 3)
Ultimate flexibility. 10% You can withdraw money anytime you need it, with a daily limit of RM250.

Now that we’ve got that sorted, let’s talk about how to transfer your funds from Account 2 to Account 3 online!

You have two options to transfer your funds into Akaun Fleksibel (Account 3): online or at a Self-service Terminal (SST) at any EPF branch. But, why queue up at KWSP when you can do it from home?

Just use the KWSP i-Akaun application, available on the Apple App Store, Google Play Store, and Huawei App Gallery. If you don’t want to download the app, you can also use the EPF’s official website.

[IMPORTANT] Make sure you’re registered for i-Akaun. If not, you’ll need to do the eKYC process, which involves scanning your IC, performing TAC verification, and taking a selfie. 

Here’s a step-by-step guide provided by EPF:

Image source:

  1. Log in to i-Akaun: Use your credentials to log in to your i-Akaun via the app or the EPF website.
  2. Navigate to Account Transfer: Go to the Account Transfer section.
  3. Select Transfer Amount: Choose the amount you want to transfer from Account 2 to Account 3.
  4. Confirm the Transfer: Review the details and confirm the transfer.

“How much can I transfer from  Account 2 to Account 3?”

Here's the scoop: You have some flexibility in deciding how much to transfer from Account 2 to Account 3, but there's a limit. EPF allows you to transfer only 10/30 of your Account 2 balance

For a better understanding, refer to the visual from EPF below:

Image source:


“What if I Don’t Want to Opt In?”

Hey, no pressure! If you’re not feeling the transfer vibe, you totally don’t have to opt in. Your existing balance will hang tight in Akaun Persaraan and Akaun Sejahtera. But here’s the thing —  you'll have to wait for years before you can get your hands on that cash.  

But ultimately, it's your decision — you do you!

Now, for those itching to make the move, listen up! The window of opportunity is open from 12 May to 31 August 2024. That’s your cue to act fast! Remember, once the transfer is made, there’s no turning back.  So, think it through, weigh your options and make your move wisely.

And here's the cherry on top: if you decide to go for it, expect your application to be processed within 3 - 5 working days.

Easy peasy, right?

*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.



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About the Author

Nisa Afiqah

Nisa Afiqah is a digital marketing intern at Finology. She's currently diving deep into content writing under the guidance of a stellar mentor. With a passion for her interests, she can chat up a storm!


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