EPF says the money would be credited into their bank accounts via electronic transfer between May 4 and 18.— Picture by Hari Anggara
The money would be credited into their bank accounts via electronic transfer between May 4 and 18, he said in a statement here today. “This aggregate liquidity is needed not only to help the people get disposal income but also to create the market liquidity required by the retail sector, allow money to change hands and create a multiplier effect on the country’s economy,” he added.
“This unprecedented health emergency had shrunk cash flow in the market after many people lost their sources of income. Billions of ‘tourism dollar’ from foreign tourists have also been lost because of the collapse of the tourism service sector,” he said.
The monies are members own contribution to the fund and not a govt allocation. Based on the data provided, only half of the members have opted to use the option.
It is the EPF members’ own money, withdrawn via the i-Lestari scheme. It is not money from the EPF nor from the backdoor government.
i-Lestari is self saving deduction scheme, please don't write as though our EPF contributors just hit a lottery jackpot. Whatever amount got chipped away today, remember a part of tomorrow's life line just got shredded along the way. Will editors edit better next time?
Important to note, this i-Lestari money is money that belongs to contributors. NOT government assistance.
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