A juggling act for EPF savings

Prioritise savings for long-term benefits: There are currently two EPF accounts: Account 1 which cannot be accessed until retirement, and Account 2, where funds can be withdrawn for purposes such as education or payment for housing loans. — Filepic

PETALING JAYA: While some Malaysians welcome having flexible access to their Employees Provident Fund (EPF) accounts, financial experts are calling on the government to come up with a proper plan to ensure that retirement savings will not be compromised in the long run.

Sales manager Mohd Ikhwan Hanafi, 37, said the plan will allow contributors to withdraw a certain amount, yet their retirement fund will remain intact.