Tengku Zafrul: EPF not solution to challenges, retirement savings important

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KUALA LUMPUR: The Employees Provident Fund (EPF) should not be seen as a solution or a way to overcome challenges, as this will affect the retirement savings of contributors, especially when Malaysia is expected to hit aging nation status by 2030, says Minister of Finance Datuk Seri Tengku Zafrul Tengku Abdul Aziz.

"This means that in eight years, retirees or senior citizens will make up 15%, or 5.3 million people, of the population, and eight years is not a long time.

Tengku Zafrul said this in response to certain quarters that have been urging the government to allow a one-off i-Citra withdrawal of RM10,000 for contributors affected by flooding in the country. Up to now, through the i-Lestari, i-Sinar dan i-Citra programmes, each EPF member is allowed to withdraw up to RM71,000, with the withdrawals totalling RM101bil.

"If we continue to allow withdrawals whenever a disaster happens, the aim of retirement savings will never be realised,” he added."In the formulation of policy, the government needs to be responsible and to think long term, including the wellbeing of our grandchildren.”

 

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agree

Klu merasa sempat umur 55..silap2 abis kena sakau dgn puak KjaanGagal2.0 lak nnt..🤣

I’m guessing no more EPF money in the vault, huh? Funding Wolf of Wall Street 2 isit?

If we are lucky we live till 55 that pun dapat sebahagian saja. As retirement age is 65 now? If we r unlucky tak tau kerja setengah mati with no purpose.

Zafrul bukan berjiwa rakyat, pelbagai masalah termasuk bencana alam, rakyat mengharapkan caruman utk meneruskan kelangsungan hidup kenapa DITAHAN

2022 covid omicron, price inflation & floods is not an emergency I guess.

Menteri tzafrul_aziz, please consider this decision again.

If they need money and ya no money and less amount fr gov,ngo, company , and etc whr they look fr money All jadi perompak ke? Naikkan Kes jenayah?

His playing game, orchestrated by somebody so that his boss to be blamed

He is correct.Reduction of overbloated cabinet is. So is a 50% reduction of ministerial salaries effective immediately. KerajaanGagal KerajaanBodoh MenteriBebal

Govt, every politicians, even workers' unions, ought 2 stop targeting EPF funds s d easy wayout 2 a quick & short resolution 2 ppl's financial pblm, particularly EPF contributors.

It must be that EPF has not enough funds for their investments....EPF crony already complaining, so Zafrul now change his tune on EPF withdrawals.... 😅

Free money from the government is the solution. Can start by selling off the Veilfires. 😂

Baru sedar ke? Amazing..

Getting worried about my savings in EPF now...is it still there?

“واهاي ڤمليهارا کامي، سسوڠݢوهڽ مريک ايت ممڤرليکيهکن تقدير يڠ اڠکاو تورونكن ڤد کامي۔ بريله مريک راس اڤ يڠ کامي راس” tzafrul_aziz

Agreed

Fark the retirement dude. Ppl will bankrupt, suicide and forever let bank eat interest. All the epf savings end up paying banks.

If you stand for nothing tzafrul_aziz, who do you fall for? TrustNoOne

Mmg la simpanan tuk retirement, tp kalo org tu dh xde duit.. Nk kne merempat dulu sampai retirement age ke mcm mne? Kita ni pon belum tentu hidup sampai umor 90..ajal maut xde sape tau. Ko nk songlap duit org tu kan.. Sbb tu xbagi keluarkan.

Those requested not flood victim

This is shocking, I thought you don't know

2020 & 2021 EPF was an solution but in 2022 isn't...where is the stand?

Byk yg terpaksa/dipaksa 'retire' due to covid

T Zafrul is talking from his privileged perspective earning RM100,000 a month and he has millions in his EPF. The B40 & M40 who have lost or damaged their homes, DO NOT HAVE ANY OTHER CHOICE . Other than explotive Ah Long or wait till 55, if they live long enough thro Covid19.

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