"Hopefully, we can extend this to benefit more than 600,000 MalaysiansIn tabling Budget 2021 on Nov 6, Zafrul announced a facility to withdraw EPF savings from Account 1 on a targeted basis.
Eligible contributors will be allowed to withdraw RM500 a month of up to RM6,000 over 12 months, to assist those who have lost their jobs and to lighten their financial burden.Zafrul also said that the government was reluctant to allow Account 1 withdrawals initially due to concerns over the savings of Malaysians for the future but at the same time, it was also concerned about the people's well-being.
"Coupled with the i-Lestari withdrawal facility, the total allowed withdrawals will be up to RM12,000. "Under i-Lestari, where EPF members are allowed to withdraw RM500 monthly from Account 2 until April, a total of 4.7 million workers have benefited from it, with a total of close to RM12bil," he said.
Under Budget 2021, the government is also reducing the minimum employee EPF contribution rate from 11% to 9% starting January 2021 for a period of 12 months to increase take-home pay."With the RM12bil from Account 2 withdrawals and this RM9.3bil, there will be an additional RM21.3 liquidity in the economy," he said.
Susah sangat ke nak keluar 10k duit sendri? Macam pengemis dirumah sendiri.
inject 10b via drawdown epf into the economy
Just make it flexible for all to withdraw. Easy. Why try to create so many rules?
I am in great perplexity on how ppl can support this gov. These ministers are millionaires n stole power frm rakyat. Then ask ppl to withdraw own retirement fund to save own selves on a pandemic crisis. WakeUpMalaysia ChangeGov MuhyiddinOut
For crying out loud, it's not a benefit. It's our own hard earned money!!!
Tak payah nak nampak macam hero la. Apa yg heroic using the people's own money to help ourselves. Then, what good are you?
Own money to save our life. Good job.
Kwsp ni lagi besar dari kerajaan ke?
Still got money? The loans to the scandalous 'investment' paid back already or considered lost?
Sounds much better but it's still basically digging out our own money. No help really from our govt.
Bagi je keluar 10k secara pukal , abis cerita. Nk bincang apa lagi?
Asking the people to dig into their future retirement funds to survive is COMPLETE FAILURE of the Govt policies to manage the country's finances responsibly. tzafrul_aziz DO NOT construe your 'spend now worry later' policy as benefitting the people
C'mon Mr Finance Minister. They got a reason but my point is that what for saving money for retirement when we need money see us thru pandemic. Either government give us or we use our own money whereever we can get it. Forget retirement because tomorrow may not come for many.