At what age can employees typically start withdrawing EPF funds after retirement?

Get more with Examzify Plus

Remove ads, unlock favorites, save progress, and access premium tools across devices.

FavoritesSave progressAd-free
From $9.99Learn more

Prepare for the EPF Standard Essentials Test. Use flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

Employees can typically start withdrawing their Employees' Provident Fund (EPF) funds upon reaching the age of 60 years, which is the standard retirement age in many regions where EPF is applicable. This age marks a significant milestone, as it aligns with the retirement policies established for ensuring that individuals can access their savings after a long and productive workforce participation. Withdrawing funds at this age allows retirees to utilize their accumulated savings for post-retirement needs such as healthcare, living expenses, and leisure activities. It also reflects the intended purpose of the EPF scheme, which is to provide financial security to employees after they conclude their professional careers. The ages provided in the other options do not align with the standard retirement practices for EPF fund withdrawal.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy