PETALING JAYA: The Employees Provident Fund (EPF) consistently encourages its members to be wise with their i-Sinar withdrawals, says its chief strategy officer Nurhisham Hussein.
He said EPF dispensed advice and reminders as well as guides for members to ensure that they carefully manage spending the i-Sinar withdrawal.
"The i-Sinar facility was launched at the end of last year to help lessen the financial burden on members caused by the Covid-19 pandemic and its subsequent economic effects.
"The EPF and relevant agencies have continuously advocated financial literacy and management since the beginning of the pandemic, because a concerted effort is needed to ensure members and the general public spend their hard-earned savings wisely to sustain themselves during this difficult period," Nurhisham said in a statement on Wednesday (March 31).
"Specific to i-Sinar, the EPF constantly provides friendly advice and reminders to members on the need to carefully manage their spending via its communications channels and interaction with members.
"The EPF has always called on its members and the public to utilise the Retirement Advisory Services (RAS) offered free of charge by the fund, as well as other financial advisory channels, should they need help making informed decisions on their financial planning," he added.
EPF is reported to have allocated RM70bil for the i-Sinar initiative in Budget 2021.