KUALA LUMPUR, April 10 — The Employees’ Provident Fund (EPF) Account Two support facility is not in the form of collateral offered by a borrower to a bank, said Deputy...
KUALA LUMPUR, April 10 — The Employees’ Provident Fund Account Two support facility is not in the form of collateral offered by a borrower to a bank, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.
“Collateral means has the right to enforce the collateral when a borrower fails , meaning if the borrower takes a RM5,000 loan and fails to repay it, takes the RM5,000 immediately. “Members have the right to make withdrawals when they reach the age of 50 or 55 because members are still protected under Section 51 of the EPF Act 1991,” he said when winding up the motion for extended EPF withdrawals in the Dewan Negara today.
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