KUCHING, Feb 16: No further special withdrawals from the Employees’ Provident Fund (EPF) will be allowed, says Deputy Finance Minister Datuk Seri Ahmad Maslan.
He explained that there was a need for a boundary to be drawn in order to avoid a larger problem from occurring after RM145 billion was withdrawn by 8.1 million EPF members when past governments eased the restrictions.
“Firstly, the Covid-19 pandemic is over. If we look at the moratorium, the repayment loan is no longer there, and special subsidies and wages are no longer there,” he explained as quoted by MalayMail, today.
Comparing the average savings of Malaysians after the pandemic, he said, it has shrunk by 20 per cent (RM8,100) in 2022 compared to RM16,600 in 2019, and 51.5 per cent out of 13 million of EPF members are 55-years-old with less than RM10,000 in savings.
This is why further withdrawals will not take place, he said. — DayakDaily
