Using EPF funds to address affordable housing woes

At the moment, the withdrawal limit to purchase a home is 30% of total Employees Provident Fund (EPF) savings or all savings in Account 2.

THE rise in cost of living has led to a significant erosion of take-home income and is becoming an increasing cause for concern. This has resulted in more Malaysian youths and job entrants being unable to afford to purchase homes in urban and sub-urban areas.

The situation is further aggravated as the country struggles to find a solution to keep real estate prices in check. Many governmental agencies have been set up but affordability remains a problem.