KUALA LUMPUR, Nov 20 — A total of RM44.2 million has been withdrawn by contributors from the Employees Provident Fund (EPF) Akaun Sejahtera (Account 2) since the i-Lindung programme was introduced in July 2022, up until September this year, said Deputy Finance Minister Lim Hui Ying.
She said that in the same period, 144,589 EPF members had benefited from the initiative, which allowed them to withdraw funds from their Akaun Sejahtera to purchase life insurance and critical illness coverage under the i-Lindung programme.
“Starting from February 2024, the EPF has improved the second phase of the i-Lindung programme under the member protection plan.
“EPF members can use the savings in their Akaun Sejahtera to purchase conventional and takaful insurance products for life protection and critical illness coverage for their immediate family members,” she said during the question-and-answer session in the Dewan Rakyat today.
She said this in response to a question from Chiew Choon Man (PH-Miri) on whether the EPF would strengthen the i-Lindung programme through subsidies and negotiations with insurance companies.
Lim said the government welcomed Chiew’s proposal for the EPF to empower the i-Lindung programme through subsidies and negotiations with insurance companies, so medical coverage can be offered at a reasonable rate up to the age of 99.
She said the primary objective of the EPF is to provide a retirement savings fund that would ensure the financial well-being for retirees.
— Bernama
