[UPDATED] Time to ensure EPF contributors have enough for retirement: PKR MP

[UPDATED] Time to ensure EPF contributors have enough for retirement: PKR MP

5 days ago

KUALA LUMPUR – Instead of allowing further Employees’ Provident Fund (EPF) withdrawals, it is time for measures to ensure sufficient savings for when contributors reach retirement age, 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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