Does anyone know what exactly is needed for EPF account 2 withdrawal? I planned to withdraw around 67% of it and the remaining will be paid from my CC to earn some cash back before converting to 12 months BT.

I Googled and I can apply via online e-Pengeluaran form, however I cannot remember my tarikh mula pengajian and tamat pengajian. Also the dates can only be backdated to last 10 years, I started my degree program before that.

I guess I have no choice but to walk into the nearest EPF centre to apply for withdrawal. If anybody knows what else is needed besides my Degree transcript and cert, then please let me know. I just don't want to spend few trips there for the same thing.

Also how long will it take for it to be transferred to PTPTN? Thanks!

Not much details from PTPTN website:
https://www.ptptn.gov.my/faq-bayaran-balik-...n-akaun-ii-kwsp

Guess you need to follow EPF Account II requirement.
http://www.kwsp.gov.my/portal/en/member/education-withdrawal

Maybe this blog can help you:
http://doodle-from-me.blogspot.com/2017/08...tptn-using.html

This post has been edited by David83: Dec 7 2018, 09:29 AM

I found more information from EPF website but still worried I miss out anything as I'm going back to hometown today after work later and will be off for one whole month. My other documents are in my PJ house. I already prepared my transcript and cert.

Looks like I will call EPF and PTPTN later, hopefully the lines are not congested.

I think PTPTN can't really help you much.
The ball is with EPF and EPF is pretty strict and stringent when comes to its withdrawal.

Hi I just called PTPTN 03-21933000 yesteday and the officer followed-up with whatapps.

The PTPTN officer will inform your degree tarikh mula pengajian and tamat pengajian.

Once you apply through e-Pengeluaran form, have to wait for KWSP sms and bring degree transcript and cert to nearest PTPTN for thumbprint.

and PTPTN officer informed it will take around 14 days for KWSP to transfer the money.
Better act fast now.

Btw, i applied e-pengeluaran yesterday and still waiting KWSP sms...

I saw the dates were supposed to be provided by PTPTN.
Never mind will call later.

Thanks for the information! I will need to check the dates and see if I'm not mistaken I cannot do e-Pengeluaran because of the dates.

Still in dilemma whether to clear all 20k balance after factor in 20% discount...
Ady cleared half before and enjoyed 10% disc but recently the ptptn officer call me asking if i want to clear the balance so i was tempted abit... summore if can pay online using public cc got further 5% disc

This is only capped at RM 30/38 not exactly 5%.
Nevertheless, you do gain a lot if you proceed for full settlement.

This post has been edited by David83: Dec 7 2018, 01:23 PM

https://www.thestar.com.my/news/nation/2018...d-says-maszlee/

No news on the discount... so for those want to enjoy the discount, better clear it this month. (last month)

Just clear off. Even after the news is out, I will still proceed for full settlement.
Reason being, we know PH will not give candy anymore, so 20% will not be available anytime soon.

PTPTN discount is usually announced during Budget.
Since nothing is mentioned about the extension, the discount will end by end of this month.
By the way, 31/12/2018 is a Monday.

A friend of mine went to apply for full settlement using her money in EPF Account 2.
Submission and all went smooth until... an SMS from KWSP saying withdrawal has been rejected.
Reason given is the transcript & degree scroll provided do not tally with the course mentioned in the loan offer letter.

She was from MMU. She took the foundation study which is a 1-year program prior to the 3-year management degree program. Apparently KWSP treat this "completion of foundation study and continue with degree program" as a "course change"... and rejected the withdrawal.

If you are in similar situation, you will need letters from PTPTN and the institution (in her case, MMU)... saying you have changed course, or explain the situation to KWSP.

Good luck.

Majority of MMU students start their course from Foundation level.

Holy and I was from MMU.
I already paid off my foundation money. Now is Degree loan, another thing is I changed my course from Engineering to Business and MMU didn't report to PTPTN. So, eventually my PTPTN loan was still based on Engineering... Of course my cert was from Business.

The thing is I was told no loan offer letter was required, so how did EPF know about this?

I haven't gone into "E-Pengeluaran" yet. I guess I will be in deep shit now.

Edit: Managed to speak to MMU regarding this and they will help me to get one confirmation.. Apparently, there are a few ex-students have called to get this letter... Hopefully I will get one as my graduation has happened some time back.

This post has been edited by fruitie: Dec 7 2018, 05:40 PM

I really think you shouldn't use your EPF money to settle your loan. Best to just pay monthly because PTPTN is a 1% interest loan and you're giving up returns of an average of 6% for a 1% loan.

If your amount of loan remaining is small though, I would recommend taking the 20% and using a credit card interest free payment to double back and repay it all in the next 12 months.

Reason being we are not sure what will come next. Few days ago announced mandatory salary deduction according to salary bracket. Though it's 1% interest but every month my repayment will increase 5x, I don't think it's fun. I have other commitments to factor in as well. Though this has been suspended by MoE but God knows what will happen next year. By that time, no more 20% discount (because this is Najib's budget) and I will end up paying more with higher mandatory salary deduction.

Mazlee said will put on-hold.

He said will be re-studied again with collective feedback from the stakeholders. Then suddenly announce new thing again.

There ARE benefits using the EPF money to settle the loan now.

First off, you get to clear one item off your CCRIS.
Then, you get to enjoy a 20% off your debt.
And... 10 20 years down the road, nobody knows for sure about EPF's dividend payout.

There are investment which gives return better than EPF.

So, it's up to one's situation and financial planning.