KUALA LUMPUR – The government is urged to allow the withdrawal of Employees Provident Fund (EPF) after the 2021 dividend payment which will take place soon.
Former Prime Minister, Datuk Seri Najib Razak believed that the government would allow the i-Citra withdrawal for the affected contributors if they get enough of support, including from the Perikatan Nasional (PN) Youth Chief, Ahmad Fadhli Shaari.
“In my opinion, the best time for the government to allow the final special i-Citra withdrawal for affected members is after the EPF 2021 dividend payment that will happen soon before the hari raya.
“With the support declared by the PN / PAS Youth Chief yesterday, I am more optimistic that the PN ministers will finally not object but will support the request of this special withdrawal and it can become a reality.
“I hope that this PN/PAS Youth Chief will work and persuade the President of PPBM and PAS and PN ministers to give their support,” said Najib.
Earlier, several economists projected that the EPF will announce a more interesting dividend for 2021 between 5.2 to six percent.
It is driven by the increment of gross investment income besides, a positive capital market performance.
Najib also gave the similar opinion that the EPF’s performance in 2021 was better.
This is due to a better foreign investment, especially in the United States that fetched very good returns.
“Although it is still low compared to the 6.9 percent dividend in 2017 before the economy dropped after GE14, the dividend prediction of between 5.2 to 6 percent for last year is still a good rate.
“Many people condemned in the past for issuing statement that I wanted to EPF to invest in the America and not merely in Malaysia when I visited the President of the United States,” said Najib.
In 2020, the retirement fund announced the dividend rate of 5.2 percent, which involved a distribution of RM42.88 billion for the Conventional Savings and 4.9 percent for the Syariah Savings amounting to RM4.76 billion.
Many Malaysians are currently demanding for the one-off withdrawal of EPF savings due to the economic pressure. -MalaysiaGazette