By Adrian Lim
KUCHING, Nov 9: Sarawak People’s Aspiration Party (Aspirasi) is urging the Sarawak government to give a cash handout of RM500 to Sarawakians who have lost their jobs due to the Covid-19 pandemic for a year.
Its president Lina Soo asserted this will prevent unemployed workers from withdrawing their savings from the Employees Provident Fund (EPF) Account 1 as proposed under Budget 2021.
She opined that the Sarawak government should discourage Sarawakians who have lost their jobs from taking up the EPF Account 1 withdrawal scheme to safeguard their retirement savings.
“We urge the Sarawak government to implement this scheme to assist Sarawakians who will be compelled to make the EPF withdrawal if there is no help coming from any quarters.
“To withdraw money from one’s EPF account is to use future money whereby one will have less money to support his living once he no longer has income.
“The Sarawak government must show concern and care for Sarawakians who are suffering during this difficult time in an unprecedented pandemic,” Soo said.
She noted EPF contributors have spent their lives working to save a tidy sum for retirement, and their money for retirement should be left untouched.
Soo observed that studies have shown that most EPF contributors will not have enough savings for retirement.
Further, she noted employees’ mandatory EPF contributions has been reduced from 11 per cent to nine per cent effective 2021, which will reduce contributors’ future savings further.
She opined that the double whammy is worrying to contributors who were already stressed from having lost their jobs and income following the economic fallout from the Covid-19 pandemic.
Hence, Soo expressed belief the Sarawak government can help to protect the retirement fund of jobless workers by coming in to assist them financially. — DayakDaily
