Experts: EPF withdrawal will deplete people’s savings but may help economy


PUTRAJAYA: Allowing workers to withdraw from the Employees Provident Fund (EPF) to tide over the economic impact of Covid-19 will deplete their savings but may help with the economy, say experts.

They said this after the Prime Minister announced that the government is studying suggestions to allow certain contributors such as laid-off workers to withdraw funds from Account 1 of the EPF.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
EPF , Akaun 1 , withdrawal , Muhyiddin Yassin

Next In Nation

Bill to cap PM’s term at 10 years to be tabled on Monday
Cops nab man connected to 2025 intimidation case
Police to call several individuals in probe over alleged share ownership by Azam Baki
DAP special congress is part of party's internal process, says Fahmi
Sabah flood: Number of victims increased to 3,768 people at noon
Prioritise welfare of police personnel, says Dr Wan Azizah
Traffic slows on major expressways as at noon
Building tech ecosystem to help Perak SMEs compete
Woman who stabbed mother remanded seven days
Rafizi to proceed with lawsuit against Caprice over alleged defamation

Others Also Read