EPF members running out of funds

Alternative solutions sought: As at December last year, EPF had 15.72 million members, with slightly more than half of them classified as active members. — Filepic

KUALA LUMPUR: With median savings down to between RM3,300 and RM5,000 among Employees Provident Fund’s (EPF) low-income contributors, the government is adamant about not allowing another round of special withdrawals.

Deputy Finance Minister I Datuk Seri Ahmad Maslan said some 8.1 million EPF members had seen their median savings reduced by 50% in 2022 during the Covid-19 pandemic when special withdrawals were allowed.