Time to replenish withdrawn EPF savings: PKR lawmaker

Time to replenish withdrawn EPF savings: PKR lawmaker

8 days ago

KUALA LUMPUR – Instead of allowing further Employees’ Provident Fund (EPF) withdrawals, it is time for measures to replenish funds taken out by contributors during the Covid-19 pandemic, said PKR lawmaker Lee Chean Chung.

The Petaling Jaya MP noted alarming statistics on the high numbers of contributors who only have retirement savings of less than RM10,000 left, and proposed three ways to address the problem.

He suggested tiered dividends to provide higher dividends to those with more savings contributions, as well as increasing foreign investments by EPF and limiting withdrawals after age 55.

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