Government allows special EPF withdrawal of RM10,000 , urges contributors to save for their old age

minister ismail

PUTRAJAYA MAR16: The government has agreed to allow special withdrawal of the Employees’ Provident Fund (EPF) amounting to RM10, 000 after listening, studying and analysing the requests from all parties to withdraw their EPF contributions.

Prime Minister, Datuk Seri Ismail Sabri Yaakob said, the Ministry of Finance and EPF will give further details on the special withdrawal of the EPF.

Ismail said, based on the results of a study and analysis as a whole in the recovery phase after the pandemic, it is found that there are many among the Malaysian Family who are still affected economically , lost of income and building up their lives again.

The Prime Minister added, the government has made a difficult decision as it involves the savings of the people for their old age and the special withdrawal is a mid-way in balancing between the current urgent requirements and savings for the future.

“Even though the government has given permission for the special withdrawal of the EPF but I appeal to all the contributors to maintain their savings except in times of urgent needs.

“I hope contributors will consider wisely before making any withdrawal for the sake of their future,” Ismail reiterated.

Elaborating on the EPF, Ismail said, the government has earlier allowed the withdrawal of EPF contributions via three schemes namely i-Lestari, i-Sinar, and i-Citra amounting RM101 billion involving 7.34 million contributors since the COVID-19 pandemic hit the country two years ago. – Malaysia World News


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