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Bersatu MP proposes targeted EPF withdrawals to alleviate financial strain

Wan Saiful cited a memorandum he received from concerned EPF contributors.

NOR SYAMIRA LIANA NOR ASHAHA
By NOR SYAMIRA LIANA NOR ASHAHA
04 Mar 2024 02:28pm
Wan Saiful Wan Jan. - FILE PIX
Wan Saiful Wan Jan. - FILE PIX

SHAH ALAM - Bersatu MP Datuk Wan Saiful Wan Jan urges the government to consider allowing targeted withdrawals from the Employees Provident Fund (EPF) for contributors facing financial hardship due to the rising cost of living.

Wan Saiful cited a memorandum he received from concerned EPF contributors.

He highlighted that contributors' savings belong to them, not the government and their requests to access their own funds deserve serious consideration.

"The recent increase in living costs, exacerbated by the government's shortcomings, has only compounded their difficulties," he said in a Facebook post today.

He suggested the government establish specific criteria for targeted withdrawals, balancing contributors' urgent needs with the importance of long-term retirement savings.

"A one-size-fits-all approach wouldn't be effective.

"This needs careful evaluation based on individual circumstances," he added.

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