Group doubtful EPF loan scheme can help M40, B40 FMTNews
PETALING JAYA: A group pushing for EPF withdrawals has questioned the government’s decision to let people use their retirement savings to support loan applications.
The group’s president, Azmi Tahir, said many people have already dipped into their Account 2 to pay for their housing loans and children’s education.He told FMT the group believed permitting withdrawals would be more beneficial for those in desperate need of funds as there will be fewer strings attached.
Currently, 6.7 million people have less than RM10,000 in their EPF accounts, compared to 4.7 million in 2020. “They may have worked for years but may have been retrenched. They may find it difficult to get another job due to their age and health.”
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