Don’t opt for 3% cut, employees urged

Director of MEF Shamsuddin Bardan and Datuk Abd.Aziz Abu Bakar during the Flexible Work Arrangements workshop. Talent Corp, which is co-hosting the event, is also collaborating with myStarjob.com on flexWorkLife

PETALING JAYA: Malaysian Employers Federation has advised workers not to opt for a 3% reduction in their contribution to the Employees Provident Fund because it can affect their retirement savings.

Federation executive director Datuk Shamsuddin Bardan said although extra money could come in handy for some households, lower EPF contribution would erode the retirement savings of about 70% of EPF contributors.