Withdrawal to Purchase A House
Your EPF Savings Account
Your EPF Account is where all your monthly contributions and that from your employer are credited into.
Effective 1 January 2007, the Account is divided into two parts, namely Account I and Account II. Contributions received on your behalf from your employer will be credited into the two accounts according to the following percentages:
a) Account I – 70% of monthly contribution.
b) Account II – 30% of monthly contribution
These accounts are created for different purposes, and different types of withdrawals are applicable on each accounts:
|Account I||Account II|
|Percentage of Monthly Contribution||70%||30%|
|Purpose of Account||- Retirement
|- Owning a house
- Settling balance of house loan (first house)
- Education for you and your children
- Medical expenses for you and your children