EPF withdrawal schemes and the financial future of the poor

The various EPF withdrawal schemes – i-Lestari, i-Sinar & i-Citra – where contributors use their retirement savings to face the current financial crises will certainly have a devastating impact on their financial future not only in their retirement age but their ability to address their major financial needs such as purchasing a house, their children’s education or medical expenses.

Fomca urges the government to provide direct financial assistance to the poor.