No conditions for i-Sinar application, only criteria for verification

KUALA LUMPUR: There are no conditions attached to the i-Sinar admission application and what is described are the criteria to ensure that the application matches the internal records of the Employees Provident Fund (EPF).

In a statement released today, the pension fund said this is to ensure that the approval process can be speeded up easily and safely.

“The verification process is required to prevent fraud and improper withdrawal of i-Sinar funds by third parties. Members who meet the criteria will have their application automatically approved, ”said the EPF.

It said only confirmation of the maximum amount is required during the member’s online application, which is not difficult.

Since each member’s situation is unique, Category 2 allows the EPF to take into account certain situations, such as a reduction in income, based on their supporting documents. Members only need to apply online.

As to why automatic approval could not be given to those who also applied for i-Lestari, the EPF explained that the country’s situation at the launch of i-Lestari was different from today.

“Economic activity ceased in those months (from March). Now the economy is almost back to normal and most workers are back to work.

“Still, the EPF understands that the economic situation of the current members differs depending on the industry or industry they work in, and i-Sinar will be available to assist them,” he said.

For members who have not undergone a 30 percent pay cut, but still need cash to support themselves in this pandemic, the EPF said there is still scope under Category 2 to consider applications from all members who affected by Covid-19.

“If your income or salary has been reduced and you have the supporting documents to demonstrate this, you are encouraged to submit your application on January 11, 2021. The EPF will still process your application.

“This is to make sure the door is not closed and it allows as many members as possible to apply for i-Sinar, which is estimated to be eight million,” he said.

As to why payments are spread over the six-month period rather than being a one-off payment, the EPF said it wants to ensure members are assisted for as long as possible and understands that the first month is important to members to fulfill their commitments and expenses for the beginning of the year, such as schooling of children and the like.

As such, the staggered payment approach is based on a number of criteria, including data on the current liabilities of EPF members; the need to stagger the welfare period due to the uncertainty of the Covid-19 pandemic; and to balance the cash flow and current investments of the EPF, ”he said.

In shortening processing time, the EPF said for those in Category 1, the fund has speeded up the application process via automatic approval using internal data. They are expected to receive their first payment in mid-January 2021.

For those in Category 2, the EPF estimated the processing time to be between two and three weeks from the date of application, so documents can be verified and reviewed on a case-by-case basis.

Members are expected to receive their first payment at the end of February.

Members must apply online and the EPF reminds that before doing this, they must ensure that their i-Akaun is active, that their phone number is updated to receive the TAC number (at the EPF counter or kiosk) and that their bank account number is active. Named

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