“No more dipping into EPF savings,” Anwar says

THE Government will not be allowing another round of withdrawals from the Employees Provident Fund (EPF), announced Prime Minister Datuk Seri Anwar Ibrahim.

This is as such a move would negatively affect contributors who are retiring soon, with many of them left with a relatively small sum to survive in their old age.

However, the premier assured that Putrajaya is looking at other ways to help ease the people’s financial burden without compromising their post-retirement survival.

“I could just let them withdraw their [EPF savings] since it’s their money anyway. But for those who are only left with, say, RM3,000, and if they withdraw RM3,000 now, what will happen to their families later?” he asked.

“Those who still have much left may not have a problem but what about those who don’t? Some are going to retire in two to three years’ time.

“So we are trying to find a way to help ease their [financial] burden without affecting them after they retire.”

Anwar was speaking to reporters at Bestari Jaya after he delivered a lecture at Universiti Selangor’s main campus earlier today.

Last month, a group that had been fighting for another round of EPF withdrawals had submitted a memorandum to Anwar asking him to consider a special withdrawal of up to RM30,000.

According to Pertubuhan Aktivis Rakyat Malaysia (ProRakyat) president Khairul Anuar Othman, the early withdrawal is needed as a short-term solution for those who suffered hardship due to the COVID-19 pandemic.

He also said many EPF contributors have pending bank loans that need to be settled, while those who have obtained new jobs or have ventured into small businesses after losing their jobs during the pandemic urgently needed some cash injection.

Similarly, Bersatu information chief Datuk Wan Saiful Wan Jan had previously urged Anwar to reconsider the plight of depositors impacted by the escalating cost of living, saying that the public should be allowed to withdraw their EPF savings to put food on the table for their families.

Wan Saiful said he had received complaints and a memorandum from Pertubuhan Gagasan Inovasi Rakyat Malaysia (PGIR) about allowing the people of Tasik Gelugor to take out their EPF in light of the rising cost of living.

Between 2020 and 2022 under the leadership of then prime ministers Tan Sri Muhyiddin Yassin and Datuk Seri Ismail Sabri Yaakob, the government had allowed four special EPF withdrawals. – Feb 9, 2023


Main photo credit: Bernama

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