Fahmi debunks claims on EPF contributions

BANTING: The Communications and Digital Ministry has refuted social media claims that the government had agreed to limit monthly Employees Provident Fund (EPF) contributions to those who have reached the age of 55.

Its Minister Fahmi Fadzil said the claims were false and people must verify the news with EPF.

Posters being circulated on WhatsApp and social media claimed that the government had restricted monthly EPF savings withdrawals for contributors above the age of 55 instead of allowing full withdrawals.

"When I received such a message, as a minister in charge of communications, I immediately did not send it to anyone except Datuk Seri Amir Hamzah Azizan, the chief executive officer of EPF.

"I sent him a message and asked the person in charge of the EPF directly.

"He sent me a response, saying the matter is currently under study and there are no plans to implement the policy to any contributors," he said when launching the state-level "Kita Madani" programme on Sunday (July 9).

A statement issued by EPF had said that the proposal to formalise a monthly drawdown mechanism for members was still being studied.

Also, it should consider the ability and readiness of members to make such a transition.

The proposed changes would likely require a generational change, and the conversion would take time.

The EPF, however, believed that such a transition was necessary given the average life expectancy had increased from 54 years old in 1957 to 75 now and was projected to increase further in the future, translating into longer years spent in retirement.

Besides, Prime Minister Datuk Seri Anwar Ibrahim said that the government had no objections to the EPF's proposal to make it mandatory for new members to withdraw their savings periodically instead of a lump sum upon reaching 55 years old.

Fahmi noted the importance of referring to the Madani community, which played a crucial role in ensuring that issues reach the higher authorities for a comprehensive and clear explanation.

"Civil society serves as the ideal platform for consistently disseminating up-to-date and reliable information about the government's policies and implemented initiatives to the public.

"Furthermore,it provides a platform to address and refute any contentious issues, slander, or fake news," he added.

A total of 1,878 civil communities, comprising diverse races and overseen by the Information Department, had been established across the country.

During his speech, Fahmi highlighted that Selangor's fixed broadband penetration rate for the first quarter of 2023 was 61.6%.

Additionally, the mobile broadband penetration rate reached an impressive 126.1%. These figures indicate a positive development, reflecting the government's ongoing commitment to ensuring optimal Internet access in Selangor.

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 EPF , Fahmi Fadzil , Social Media ,


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