for better or worse

Housing withdrawal
before : EPF members are allowed to withdraw from Account 2 savings once in every 3 years to reduce/settle their housing loans.
for better : withdrawals (minimum amount of rm500) can be made annually from the date of last withdrawal.

Education withdrawal
before : EPF members can only withdraw for diploma courses for themselves, for children - degree courses and above
for better : now the withdrawal option is open for diploma level for EPF members themselves and their children.

Assist spouse to reduce/settle loan
for better : EPF now offers the flexibility to members to help spouse reduce/settle loan (even if the member is not a joint owner).
however, there shall be several compliances :
* the spouse must be the purchaser or borrower of housing loan.
* the property is mortgaged to a bank.
* proof of marriage is required.

Last but not least
as Syed Shahir (EPF board member) puts it :
"the life expectancy of male is early 70s & female mid70s. When a person retires at 55, he or she still has another 15 to 20 years to go. I'm concerned how he or she can take care of himself / herself if EPF savings is used up"