Targeted EPF withdrawals will save govt RM1bil which can go to flood victims, says Muhyiddin

KUALA LUMPUR: Allowing targeted withdrawals from the Employees Provident Fund (EPF) will be cheaper than allocating RM1bil to deposit RM500 in accounts with less than RM10,000, says Tan Sri Muhyiddin Yassin.

Savings from the RM1bil allocation can then be used to help flood victims, the Pagoh MP and Perikatan Nasional chairman added in his speech on Budget 2023 in Parliament on Monday (March 6).