No more EPF withdrawals, says Rafizi
Economy Minister Rafizi Ramli says the government will not allow EPF withdrawals despite pressure from a certain group to be populist. – The Malaysian Insight file pic, March 21, 2023.
He said withdrawing from the fund would drastically reduce its size and severely impact its ability and flexibility, hence limiting its investment option strategies and eventually impacting dividends paid to contributors. “If the government chooses a populist approach because we want to go for the state elections and allows withdrawals, that will severely impact the EPF’s ability to manage its fund,” he said.
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