The introduction of the Employees Provident Fund’s (EPF) Account 3 or Flexible Account is seen as one of the institution’s alternatives to meeting the emergency needs and funds of its contributors in tackling life’s challenges before retiring.

Bank Muamalat Malaysia Berhad Economics and Social Finance head Mohd Afzanizam Abdul Rashid said EPF has mapped out a perfect distribution since Account 1 or the Retirement Account still represents the largest proportion in the account hierarchy of its members.