KUALA LUMPUR – The government has finally agreed to allow the RM10,000 Employees Provident Fund (EPF) withdrawal.
Details on the terms and condition of the special EPF withdrawal will be announced by the Ministry of Finance (MOF) and the EPF, said Prime Minister Datuk Seri Ismail Sabri Yaakob today.
According to the Prime Minister, the government had previously allowed the EPF savings withdrawal through three schemes namely, i-Lestari, i-Sinar and i-Citra amounting to RM101 billion involving 7.34 million contributors since the Covid-19 pandemic strike the country two years ago.
He said, based on a thorough research and studies during the recovery phase of the pandemic, some of the Keluarga Malaysia are still affected by the pandemic in terms of economic, loss of income and they are in the midst of rebuilding their lives.
“The government listens, study and review all requests of withdrawing the EPF savings.
“Therefore, today, the Government agreed to allow the special RM10,000 EPF withdrawal,” he said in a special news conference today.
According to Ismail Sabri, further explanation on the special EPF withdrawal will be made by the MOF and EPF.
The RM10,000 withdrawal was a tough decision because it involves the retirement funds of the people and this special withdrawal is the middle ground to balance the dire needs and their future savings.
“Although the government has granted the permission for this special EPF withdrawal, however, I plead the contributors to maintain their savings unless they are truly desperate.
“I hope that the contributors would make appropriate consideration before making a withdrawal, for your future,” he said. — MalaysiaGazette