Govt should not allow further withdrawal from EPF, says MEF

There should not be any more withdrawal schemes from the Employees’ Provident Fund (EPF) savings before its members reach their retirement age of 60, so as to ensure that they have adequate savings, the Malaysian Employers Federation (MEF) said.

MEF said it is very concerning that the recent withdrawals from the savings of EPF members through i-Lestari, i-Sinar and i-Citra facilities, with a total withdrawal of RM101.1 billion, exposed the members to risks of falling into old-age poverty…