Further EPF withdrawals will burden future generations

THE Employees Provident Fund (EPF) was established in 1951 to help workers save for retirement.

In supporting those affected by the Covid-19 pandemic and the consequent movement control order, EPF had, for the first time ever, allowed contributors to make special withdrawals in 2020 under the i-Lestari aid programme, followed later by the i-Sinar and i-Citra programmes. This unusual move by EPF was in response to the unprecedented and difficult situation faced by the nation due to the global pandemic.