EPF is under pressure to allow lump-sum withdrawals from contributors’ pension fund account.
In his posting at about 9pm tonight, Najib listed out the differences between Malaysia’s Covid-19 relief scheme and the Australian scheme, which provides for a lump-sum withdrawal of up to A$20,000 for those who have suffered a 20% loss of income. The posting contained a series of questions and answers about the Australian withdrawal scheme. Najib has been among those pressing the finance ministry to allow lump-sum withdrawals from EPF Account 1, which comprises the pension fund savings of EPF contributors.