Silicon Valley Bank collapse has lessons for EPF

From Nehru Sathiamoorthy

The recent Silicon Valley Bank (SVB) collapse serves as a warning to those who argue that Employees Provident Fund (EPF) contributors should be allowed to withdraw their savings.

While it is difficult to imagine how EPF, our behemoth of a pension fund, with an asset size of RM998 billion, or almost a trillion ringgit, will ever run into trouble, let us not forget that the SVB of the US also had over US$200 billion dollars, or close to a trillion ringgit, in assets right before it spectacularly collapsed in a matter of a couple of days last week.