Redemption Transaction
1. What is redemption?
Redemption is basically a sell transaction request.
2. When can you make redemption (i.e. sell) transaction request(s)?
You can redeem (i.e. sell) once your investment (i.e. buy) transactions are completed where you have units in your holding and/or accounts. You are unable to redeem (i.e. sell) any funds during the transaction and/or pending processing cycle where unit have yet to be credited into your holding and/ or account.
3. Can you select more than one funds to redeem online?
Yes, you may select more than one funds from EPF i-Akaun’s dashboard or login to Principal’s dashboard to start your redemption submission.
4. Do you have to indicate number of units for redemption?
Yes, you are required to indicate number of units for partial redemption. To redeem all your units from a particular fund, you may tick on the “Redeem all” box. Should the balance of units in the redeem fund is less than the Minimum Units Holding allowed, all remaining units will be redeemed.
5. Can you make redemption submission online for your units invested in EPF scheme under Principal’s unit trust consultant(s)?
Yes, you can.
6. Can you make redemption submission online for your units invested in cash scheme account via withdrawal from EPF Akaun 55 and Akaun Emas withdrawal?
From Principal’s dashboard you may view your cash scheme account invested via EPF Akaun 55 and Akaun Emas. However, the online redemption is not available yet for now. Meantime, you may walk into any Principal’s branches nearest to you to submit any of such redemption transaction.
7. Can you make redemption submission online for your units in Principal’s fund(s) invested via CIMB Bank or iFast?
No, you can’t. You must submit your redemption transaction to CIMB Bank and iFast directly.
8. How long does it take to approve your redemption transaction request?
Your transaction request will be processed immediately. You will either received a Successful or Rejected Transaction Confirmation
9. When will you know about the payout amount for the fund(s) you redeem?
The ‘Indicative Price/ NAV’ that you could see in the transaction screen is the 'indicative price'. This is usually the fund price/NAV of the latest trading day (i.e. price of the fund one working day ago). This indicative price is NOT the actual transaction price of the fund that you are buying or selling. Unit trusts in Malaysia are priced based on "forward pricing". This means that if you transact today before 4pm, you will get the fund’s value as of the closing price of the market today. However, you will know the price in one working day. If you transact today after 4pm, you will get the fund’s value as of the closing price of the market tomorrow. However, you will know the price in two working day.
10. What happens after you have successfully submitted your redemption transaction?
You will receive a submission confirmation notice; followed by two (2) emails from Principal.
i. 1st email: after your online submission is successfully transacted.
ii. 2nd email: after the units have been processed into your holdings (T+2 or T+3 business days) and the Statement of Account is ready.
11. How can you view the redemption transaction status?
You may refer to the Transaction History in the top right menu tab that will show the status of the all your transactions submitted successfully. ‘Processing’ means pending processing. Once it is processed and the redemption proceeds is credited to your EPF Account 1, it will be removed from the Transaction History and appear in your fund and/ or account ledger with the complete holding details.
12. When you redeem units that were purchased through your EPF Account 1 (i.e. EPF scheme account), do you get a cheque for your redemption proceeds?
The redemption proceeds will be credited directly to your EPF Account 1.
13. Can you redeem units that were purchased through your EPF Account 1 after you reached 55 years old and do you get a cheque for your redemption proceeds?
Once an investor reached 55 years old, all investment accounts made via withdrawal from EPF Account 1 will be converted from a EPF scheme account into a Cash scheme account with release control instruction from EPF. Should any redemption request(s) received for a Cash scheme account all redemption proceeds will be payout to the investor personal account as per instruction in the redemption request submitted.