Budget 2020 Allows Couples to Withdraw Their EPF Savings for Assisted Reproductive Treatments

PETALING JAYA: Couples looking to try in-vitro fertilisation (IVF) may withdraw from their Employees Provident Fund (EPF) to fund the procedure.

Finance Minister Lim Guan Eng said this during his Budget 2020 speech at Parliament on Friday (Oct 11).

“Today, the fertility rate in Malaysia has fallen alarmingly from 4.9 children per woman in the 1970s to 1.9 children per woman, which is below replacement level.

“Therefore, to assist couples seeking fertility treatment, EPF will introduce a new category of withdrawals, allowing for fertility treatment such as in-vitro fertilisation (IVF) procedure,” he said.

Lim also added that income tax relief of up to RM6,000 given on expenses incurred for medical treatment of serious illnesses will be expanded to include expenses incurred on fertility treatment.

Source from: The Star

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