Targeted EPF withdrawal will worsen insufficiency of retirement savings, says Finance Ministry


KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said.

The ministry said it is also not a solution to the increasing financial burden of the people.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Parliament , Dewan Rakyat , MoF , EPF , GST , contributions

Next In Nation

Is your home putting your elderly loved ones at risk?
Anxious families appeal for info on missing loved ones
Two Fire and Rescue Dept officers remain unreachable
Tragedy signals climate risk
Cooperation for coming elections must not be based on intimidation or threats, says Umno sec-gen
A wet and hazy National Day, predicts MetMalaysia
Five-year-old boy dies after alleged slashing in Sibu
36 Malaysians in Tibet reported safe, status still being verified, says Wisma Putra
Bus driver on meth crashes into six vehicles in PJ
Hazardous air pollution hits six Indonesian locations; smoke from burning moves northwards to Malaysia

Others Also Read