EPF: Only 3% of contributors can afford their retirement, says chief strategy officer

KUALA LUMPUR (Bernama): Covid-19-related withdrawals over the past two years have had a massive impact on the savings of Employees Provident Fund (EPF) contributors, as currently, only 3% of contributors can afford their retirement, says Nurhisham Hussein.

The EPF chief strategy officer said the Covid-19-related withdrawals, namely i-Sinar, i-Lestari and i-Citra, resulted in many members below the age of 55 having critically low EPF savings.