TWITTER users are ganging up against the Employees Provident Fund (EPF) not only for the rejection of thousands of applications for the EPF Account 2 Support Facility (FSA2), but also for the continued confusion on the facilities provided.
The EPF yesterday (April 15) announced that 34,643 applications, or nearly half of the 74,392 received under MBSB Bank’s Ihsan-i Account 2 Support Facility (FSA2) as of April 14, are eligible for a total sum of RM722 mil.
The remainder, of course, found that their applications were rejected. They are not happy about it.
With the massive number of rejections among applicants for the FSA2, internet users showed their anguish that they do not have other means to cover their debts.
User @saravanan781225 asked the EPF a good question:
KWSP what ur next action to help 40k people who their loan rejected for whatever reason.
Is this initiative really to help people or ?
People are suffering and now their application is rejected. @KWSPMalaysia @ahmadmaslan @anwaribrahim
Please be responsible— Saravanan Nagarajan (@saravanan781225) April 15, 2023
He then tagged @KWSPMalaysia, @ahmadmaslan and @anwaribrahim, telling them, “Please be responsible.”
Nevertheless, EPF CEO Datuk Seri Amir Hamzah said he expects the number of applications for the EPF Account 2 Support Facility (FSA2) to continue rising with the launch of the BSN MyRinggit Insan-i.
He said just about 46% of the 74,392 applicants for the FSA2 were eligible for bank loans.
He also acknowledged there is confusion among EFP members about the monthly repayments, which many had thought were not needed.
“We understand there has been confusion among some EPF members regarding the need for monthly repayments towards personal loans.
“We want to clarify that this facility is targeted towards EPF members who have savings in Account 2 and are supported by a reasonable income,” he told BFM.
Amir explained that this is to ensure the applicants’ affordability to commit to the monthly repayments without compromising their retirement income. FSA2 involves a maximum financing of RM50,000 subject to the Account 2 balance, for a repayment period of up to 10 years.
Another Twitter user’s comment, @mdhuzaini reflected what the majority of people are saying:
Masa I Sinar/Lestari/Citra, akaun 2 telah dikosongkan… Rakyat yg terdesak adalah yg tidak menerima pendapatan sejak PKP… So sampai skrg, akaun 2 tetap kosong. Mcmana nak buat pinjaman??!!! Tak boleh fikir ker???
— D (@mdhuzaini) April 15, 2023
The user is saying the I Sinar/Lestari/Citra Account 2 are mostly empty (for most people), “The desperate people are those who have not had any income during the MCO.
“So until now, Account 2 remains empty. How do you want to make a loan? Were you not thinking beforehand?” the user argued, with reason.
Perhaps the EPF board should come up with other solutions for those who are not eligible, or the government should give assistance to individuals who did not earn any wages during the two years of lockdowns. This is the view of many Twitter users. — April 16, 2023
