KUALA LUMPUR, April 22 – The Employees Provident Fund (EPF) members’ consultation exercise announced on Monday has received encouraging response. In a statement in Kuala Lumpur, the EPF said more than 30,000 had provided their feedback as at 1 pm on Wednesday, in an online survey via myEPF website (www.kwsp.gov.my).
The consultation will end on May 5, 2015. The nation’s biggest retirement fund has also urged its members to participate in the consultation to ensure the results provide a more comprehensive and robust opinion of its members. Information on the EPF scheme enhancements can be obtained through the myEPF website and survey participation is via the i-Akaun.
For those who have yet to register for their i-Akaun, they can obtain the activation code at any one of the 67 EPF branches nationwide, EPF kiosks or contact the EPF Call Centre at 03-8922 6000. Meanwhile, in another development, the Congress of Unions of Employees in the Public and Civil Services (CUEPACS) said the online survey, i- Account conducted by EPF to obtain views of contributors on aligning the age for full withdrawal to 60 years is not relevant.
CUEPACS president Datuk Azih Muda said an open meeting between EPF and interested parties such as workers and employers would be more suitable. “It is obvious many do not agree with the proposal, EPF need not carry out the survey,” he said at a media conference in Kuala Lumpur.
EPF recently asked its members to consider two options — to extend the full withdrawal age from 55 to 60 years in stages over a 15-year period or maintain the full withdrawal age at 55 for existing savings and introduce the new withdrawal age at 60 for contributions of those working after the age of 55.
Azih said CUEPACS was firm on its stand that the proposal would cause retirees greater financial hardship with existing commitments such as house instalment and other expenditure. CUEPACS has also proposed that EPF give bonus to members who contributed for more than 25 years to help increase their savings.
Azih also told ministries and their agencies to fix the period of contract workers for at least three years. “For example, 18,000 contract workers under the Community Development Department whose contracts are terminated at the end of the year, will be under pressure to find new employment,” he said.