Friday, February 27, 2009

EPF stringent housing withdrawal condition for joint purchase

You might have noticed that starting from 5 November 2008, EPF (a.k.a. KWSP) has stringent the condition for housing withdrawal involving joint purchase.

Under the new terms and conditions, withdrawal will only be approved if the member purchased the house on his/her own, or jointly purchased it with his/her spouse. Joint purchase with parents or siblings might also be considered, but subjected to EPF's consideration for approval.

This new policy affects the withdrawal of EPF money for:

Anyhow, existing withdrawals which have been approved before 5 November 2008 are not affected.


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