Low Balance Account Full Withdrawal
FNPF members’ who are 50 to 54 years old; have total FNPF balance of $10,000 or less and are affected due to COVID-19, will now be able to fully withdraw funds from their FNPF account. This will provide financial support to these members to sustain their livelihood. Members can also use these funds to set up small businesses.
This withdrawal scheme opens on Monday, 16 August 2021.
You can apply for full withdrawal if you:
- have total FNPF balance of $10,000 or less.
- are 50 to 54 years old.
- have been unemployed for 12 months or more
Full balance in members General and Preserved accounts.
What documents will I need to submit with this application?
The required documents are as follows:
- Original or certified copy of your Birth and/or Marriage Certificate (if applicable) printed after year 2000 (if not previously provided).
- Valid photo ID card (FNPF/FRCS Joint ID, Voters ID, Driver’s License or Passport)
- Local bank Statement – latest and within a month old OR
- Overseas bank statement – also provide a certified true copy of your passport showing identification details, certified true copy of PR Visa pages, BSB/Routing Number, Swift Code and physical address of Bank).
All document copies must be certified by either an authorized FNPF officer, Justice of Peace, Commissioner for Oath or Notary Public (overseas). Forms can be witnessed by any other person.
Member can apply for this withdrawal on the myFNPF app.
Member can only opt for full lump sum payment.
Can I re-join the Fund after I have fully withdrawn my funds?
Yes, you can re-join or re-enter the FNPF only once, after fully withdrawing your funds under the Low Balance Account ground. However, you will not be eligible for the Special Death Benefit after re-entry.