Finance Minister Tengku Zafrul advised that EPF savings should not be relied upon to tackle challenges like the COVID-19 pandemic or floods. While special EPF withdrawals via i-Lestari, i-Sinar, and i-Citra were short-term measures, further withdrawals could harm retirement savings, especially as Malaysia will become an ageing nation by 2030. He stressed that 50% of contributors have less than RM10,000 saved, and the government has already provided financial aid to support those affected.DON’T RELY ON EPF SAVINGS TO GET THROUGH TOUGH TIMES
Finance Minister Tengku Zafrul advised that EPF savings should not be relied upon to tackle challenges like the COVID-19 pandemic or floods. While special EPF withdrawals via i-Lestari, i-Sinar, and i-Citra were short-term measures, further withdrawals could harm retirement savings, especially as Malaysia will become an ageing nation by 2030. He stressed that 50% of contributors have less than RM10,000 saved, and the government has already provided financial aid to support those affected.
