Allow further 10k EPF withdrawal! But 15% contribution rate!

Posted by Tobby > 2022-03-14 18:25 | Report Abuse

Politics!

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4 comment(s). Last comment by TrippleZ 2022-03-14 20:28

Tobby

7,397 posts

Posted by Tobby > 2022-03-14 18:26 | Report Abuse

Do you know that 100 billion were withdrawn from EPF during the pandemic! Yeah, it also reduce EPF investment and returns to contributors!
However, some politicians played up further withdrawals of 10k just to be populist!
I say, since this is very popular demand from rakyat, let them have it! But they also must agree for their contribution to be increased to 15% to 20%!

Tobby

7,397 posts

Posted by Tobby > 2022-03-14 18:28 | Report Abuse

And they also must agree to forgo return of investment of not more than 6%! Meaning if there's divvy of 8% or so, they will not get it!

Tobby

7,397 posts

Posted by Tobby > 2022-03-14 18:29 | Report Abuse

This is to discipline those who insist on withdrawing their pension funds! For those who do not withdraw their savings, they are entitled to higher returns! This is only fair!

TrippleZ

1,563 posts

Posted by TrippleZ > 2022-03-14 20:28 | Report Abuse

I need overdraft facility with EPF.

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