KUALA SELANGOR, February 11 – The government is trying to find the best mechanism to help the people deal with the cost of living without having to withdraw the Employees’ Savings Fund (EPF). The Prime Minister, Datuk Seri Anwar Ibrahim said, the people need to be aware that EPF withdrawals only affect their savings when they retire. He said, if the government follows it, there is no obstacle for the people to withdraw the EPF because it is contributory money.
“Contributors who want to withdraw from the EPF should think about what our options are (whereas) there is only RM10,000 or RM5,000 left in (EPF savings). “If the pension is four years away, what will happen (if there is no savings), let this production help in the future,” he said at a press conference after Siddiq Fadzil’s Senior Lecture on ‘Education Reform for Malaysia’s Future Prosperity’ at Universiti Selangor (Unisel ) Bestari Jaya Campus here on Thursday.
In this regard, Anwar said, the government needs to refine all angles before approving any EPF withdrawal process. “We are thinking about how to reduce the burden when they retire later,” he said. Asked about the focus in the re-presentation of the 2023 Budget, Anwar said that he had previously explained the current priority of the Unity Government to deal with the deficit.
He explained that a number of things were given the main focus in the budget, but what was certain was to make the people happy. “The focus is definitely on digital aspects, security and food safety, people’s comfort and cost of living. “This is our other strategy that I will announce at the time of the 2023 Budget (scheduled for February 24),” he said.
