Bankruptcy: Can't withdraw EPF age 55?

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asked on Sep 19, 2008 at 22:39
by   Miss Lau
edited on Dec 28, 2016 at 06:18
My father aged 54 now and facing bankruptcy soon. Since a bankrupt person can't have bank account, surely he will not able to draw his EPF after age 55. Can he put my name as beneficiary? Hoping that when he has passed away, I still manage to take over his fund in the future and take care of my mum. Will the bank or Bank Negara (BNM) seize his EPF contribution?

Really need some one advice...
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answered on Dec 14, 2011 at 03:46
by   Ms Vv
My frend told me she heard from radio that a new bankruptcy law may come out, this law allow those brankruptcy can withdraw from bankruptcy list after 5 year.  Any of you heard about this and how true is it?
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answered on Feb 18, 2012 at 00:07
by   Yachoo
edited Dec 28, 2016 at 07:29
Here's my experience on how I've successfully withdrawn my EPF recently.

My 55th birthday was in Jan 2012. Got my money in February.

The EPF at Jalan Raja Laut, K.L., will issue a 'Arahan Bayaran' (payment order) to you and you can cash out your EPF money at any RHB Islamic Bank Berhad, provided you can get a LETTER from Jabatan Insolvensi Malaysia (JIM) stating that you're a bankrupt.

I was told to go to JIM at Putrajaya and pay RM10 to do 'Carian Rasmi' for myself. It is actually an 'official search' to find whether a person is bankrupt or not. I only had to wait about 20 minutes to get the search result.

The result is a printed document by JIM stating that I'm a bankrupt, since 200?, the name of the bank that made me bankrupt, and the name of the legal firm that representing the bank. THIS is the 'LETTER' that EPF wants.

I don't have to see any official assignee (OA) or interviewed by anybody at JIM to get this letter. Just go to the counter at 2nd Flr of JIM at Putrajaya and apply for 'carian rasmi'.

Below is the address:

Jabatan Insolvensi Malaysia
Aras 2-3, Bangunan Hal Ehwal Undang-Undang,
Precint 3, Pusat Pentadbiran Kerajaan Persekutuan
62692 WP Putrajaya
Tel: 03 - 8885 1000

After that, went to EPF and apply for withdrawal, brought along the search result. The Arahan Bayaran was then ready in a week's time.

Second visit to EPF and I got the Arahan Bayaran. Went to RHB and asked the bank to use the money to issue a bankdraft to my wife. It cost me RM8, but then, it's safer than to carry a large sum of cash.

Hope this is helpful.
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answered on Feb 18, 2012 at 04:10
by   KCKC
edited Dec 28, 2016 at 07:30
Thanks @yachoo... very helpful indeed and more importantly, it sounds logic . Thanks alot!
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answered on Mar 26, 2012 at 23:21
by   zzack
edited Dec 28, 2016 at 07:31

First of all I am thankful to your suggestion. It really works! Now I have withdraw my EPF money.
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answered on Apr 17, 2012 at 02:23
by   Smurf
Can I print the "carian rasmi" @ any others JIM branch besides Putrajaya?
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answered on Nov 3, 2015 at 15:12
by   Harry
edited Dec 28, 2016 at 07:34
The last reply on this thread was at 2012. Just need a clarification regarding to this matter; is the method mentioned by @Yachoo still applicable?

I have tried it here at Sandakan, Sabah. Printed the 'CARIAN RASMI' thru e-insolvensi (need to pay RM10 online banking). Then, went to EPF to apply for withdrawal (on behalf of my mother actually). But, the officer from the KWSP said that I need an order letter from Jabatan Insolvensi to release the payment. Went back to Jabatan Insolvensi, but they also not releasing any kind of letter about the payment.

The question is, are the administering branch that make my mother went bankrupt (Shah Alam) is the cause of we can't withdraw the EPF money here in Sabah? Or I need to go to EPF Raja Laut, Kuala Lumpur so that we are clear to proceed?

Anyone, can you help?
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answered on Aug 8, 2016 at 15:23
by   Nitra
edited Dec 28, 2016 at 07:35
I'm a housewife 33 years old and my family in trouble due to some financial issue the only money that I have is in my EPF. So is there any chance for me to withdraw some money from my account? Please advice!
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answered on Aug 8, 2016 at 15:56
by   kiki
edited Dec 28, 2016 at 07:36
So is there any chance for me to withdraw some money from my account?

Since your money is in your EPF account, it will be subjected to EPF terms n conditions.

Please browse the EPF website to check what type of withdrawal is available to your case.
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answered on Nov 18, 2016 at 02:00
by   Help Help
edited Dec 28, 2016 at 07:37
My father aged 55, he went to Jabatan Insolvensi Malaysia (JIM) there to apply the letter for opening account but then JIM wants to deduct his money 50%... So, he decided not to withdraw the money.

If now, can we still go and apply the "Arahan Bayaran" from EPF and withdrawn the money?
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answered on Nov 18, 2016 at 03:15
by   jeff005
edited Dec 28, 2016 at 07:39
Dear ALL new readers..

Take serious notes. This post originated years ago. EPF have improvised the withdrawal system since 2014. It is not easy to get "Arahan Bayaran", must have banking accounts.

For bankrupts to be, open Joint Accounts with your name as second name or open with Bank Simpanan Nasional (BSN). This is for "just in case" situations. EPF withdrawal rules can change anytime and more strict.
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