Silicon Valley Bank collapse has lessons for EPF

16 days ago

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.

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