EPF worries about withdrawals too soon by retirees

The EPF bought nearly 20 million IOI Corp shares in early March

BANGI: A worrying number of retirees are withdrawing and spending the bulk of their saving in the Employees Provident Fund (EPF) too soon.

Kuala Lumpur EPF branch Retirement Advisory Service (RAS) officer Nornisah Mohd Yusof (pic) said they were most concerned with cases where members withdrew 70% of their savings and spent the money in less than 30 days.