Why Malaysians rejected proposed EPF withdrawal age

The Prime Minister Datuk Seri Najib Tun Razak made an announcement that had many Malaysians let out a sigh of relief. The hotly debated Employees Provident Fund’s (EPF) proposal of raising the full withdrawal age from 55 to 60, had many Malaysians worried.

Some are for the new proposal, as they may plan to continue working after 55 and don’t mind having their EPF savings compounded further at a guaranteed return. However, most are dead set against the proposal.