The government will not adopt a populist approach by considering another round of withdrawals from Employees Provident Fund (EPF). theSun theSundaily EPF savings Finance Malaysia
: The government will not adopt a populist approach by considering another round of withdrawals from Employees Provident Fund members’ savings, said Economy Minister Rafizi RamliHe said taking the money out of the EPF would drastically reduce its fund size and severely impact the fund manager’s ability and flexibility, hence limiting its investment option strategies and eventually impact the dividends paid to contributors.
“If the government chooses a populist approach because we want to go for the state elections and allows the withdrawal, that will severely impact the EPF’s ability to manage its fund,” he added. “No populist move. We have gone through administrative phases where decisions were made in order to get responses and likes on TikTok and Facebook, for which we are feeling the effects now,” he said.
Earlier, Rafizi launched the first vending machine under the People’s Income Initiative at Universiti Teknologi MARA Puncak Alam here.
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