Letter to Editor
On Feb 17, the Global Human Rights Federation (GHRF), Pertubuhan Gagasan Inovasi Rakyat Malaysia (PGIRM) and Persatuan Pengguna Islam Malaysia (PPIM) handed over a memorandum to the Prime Minister’s (PM) office along with supporting facts, data and research on the Employees Provident Fund (EPF) withdrawal.
We have clearly mentioned the issues faced by the people through our dialogue sessions with EPF contributors themselves.
Malaysians, particularly those in the B40 and M40 income brackets are facing a slew of debt-related hardships and obstacles, including personal loans, credit cards, ‘Ah Long’, debts with pawn shops, house rental not paid for months, auction notices from banks, cars being repossessed, children’s education expenses, and the need to start new businesses due to lost jobs and difficulty finding work, among other things.
As it is, many are asking non-profit organisations (NGOs) to help with their water and electricity bills.
It is incorrect for PM Datuk Seri Anwar Ibrahim to state that everything is returning to normal.
According to the Statistics Department (DOSM), 600,900 people were unemployed in January 2023 while the Malaysian Employers Federation (MEF) has expressed concern on Feb 18 that 60,000 people would lose their jobs this year.
The PM should allow those who have enough money in their EPF to withdraw while the government should also look into other alternatives and solutions to help those who have less than RM10,000 in the EPF account or who had never contributed to the retirement fund.
If the PM is so worried talking about retirement age, what happens supposedly if one has a legal suit for not paying up loans upon reaching the age of 55? Wouldn’t the person end up using his entire retirement savings to pay his bank on top of additional interest?
Therefore, what retirement benefits are we talking about here? Malaysians rarely retire at the age of 55 – many work until the age of 70 and beyond due to our high cost of living and low wages.
We understand that the EPF withdrawal is a temporary solution but at this juncture, it allows one to plan for his future and ease his financial burden while the government finds a permanent solution and a mechanism to ensure that people do not have to withdraw their EPF again in the future.
When EPF withdrawals were allowed previously, the cost of living has kept rising. As such, how would the government of the day expect the rakyat to settle their debts and bills while also managing family commitments and expenses?
It was not right or fair for the PM to say that if EPF withdrawal is allowed, the RM500 contribution by the government to those with incomes below RM10,000 would not be possible.
The PM needs to be more practical in understanding the sufferings, the pleadings, and the cries of the rakyat. – Feb 25, 2023
Shashi Kumar is president of the Global Human Rights Federation (GHRF), a Kuala Lumpur-based NGO fighting against racism, supremacist policies, religious persecution, double standard law enforcement, discrimination and oppression of minority groups.
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
