International Update, December 2020: Recent Developments in Foreign Private & Public Pensions, Social Security & Retirement
On November 16, Malaysia's Employees' Provident Fund ( EPF) introduced a new policy (i-Sinar) that allows around 8 million provident fund members aged 55 or younger who have lost their jobs or experienced a significant income reduction because of the COVID-19 pandemic to withdraw a portion of their Account 1 balances. (The EPF provides two types of individual accounts for members younger than age 55: Account 1 that funds retirement and Account 2 that may be accessed before retirement for education, designated critical illnesses, a home purchase, and other approved expenses.) The new ...
Source: ssa.gov