KUALA LUMPUR: Malaysian Prime Minister Anwar Ibrahim has reiterated that the government will not allow the public to make any more special withdrawals from the Employees Provident Fund (EPF) retirement scheme. This is despite the likelihood of the issue being played up by the opposition, said Mr Anwar.
KUALA LUMPUR: Malaysian Prime Minister Anwar Ibrahim has reiterated that the government will not allow the public to make any more special withdrawals from the Employees Provident Fund retirement scheme.“I believe this issue will be played up and made into a political issue, including in the upcoming six state elections.
The prime minister noted that early EPF withdrawals were allowed during the COVID-19 pandemic but the situation is now different as Malaysians are allowed to return to work. Separately, Mr Anwar also urged the EPF to increase its share of domestic investments to 70 per cent by the end of this year, especially in strategic investments.Earlier in February, Deputy Finance Minister Ahmad Maslan reportedly told parliament that a total ofMr Ahmad Maslan said then that there was also a drop in the median savings of EPF accounts for all Malaysians over three years, from RM16,600 in 2019 to RM8,100 in 2022.
The opposition coalition Perikatan Nasional has been urging the unity government to allow another round of EPF withdrawal for those in need.
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