Can individuals access their EPF accounts post-retirement?

Individuals can indeed continue to access their EPF accounts and make withdrawals as needed after retirement, which makes this the correct answer. The Employees' Provident Fund (EPF) system is designed to provide financial security to its members, both during their working years and upon retirement. After retirement, individuals are eligible to withdraw their accumulated savings in a lump sum or in parts, depending on their financial needs.

This accessibility is essential as it allows retirees to manage their savings according to their post-retirement lifestyle and expenditure requirements. The EPF scheme promotes financial independence for individuals, enabling them to utilize their funds effectively even after they have stopped working.

The other options do not reflect the provisions of the EPF accurately. Closing accounts upon retirement does not align with the purpose of the EPF, which is to support members throughout their lives. Limiting access solely to pension withdrawals or imposing age restrictions on accessing funds also contradicts the flexibility and user-focused design intended by the EPF system.