Retirement crisis in the making

The government must find ways to allow members to rebuild their lifetime savings in the EPF as to many, it is the only source of funds that they may have when it comes to retirement.

MUCH has been said about the total RM145bil that was withdrawn from the Employees Provident Fund (EPF) which has left many members high and dry and created a retirement crisis if not addressed early on.

To make matters worse, there have also been calls to allow further targeted withdrawals, but the government has flatly rejected the idea, as it will cause further hardship to EPF members in the future.