Cabinet has decided to permit members to withdraw 30% of their Employees’ Provident Fund, for Housing and Medical treatment.
Housing purposes will cover construction of a house, purchase of land for construction of a house, purchase of housing property, redemption of mortgage on housing property and for settling the outstanding balance of a housing loan obtained from an approved bank.
Medical treatment will cover heart surgery, Bypass surgery, treatment for cancer, kidney transplant, caesarean operation or hospitalisation for more than 14 days.
The Amending Bill to the Employees’ Provident Fund Act No.15 will be presented to Parliament for approval, following the stipulations made by the General Treasury. |
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