News Formal

Finance Ministry: T20 group 'monopolising' EPF with their savings, went up by 11pc during pandemic

  • 📰 malaymail
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

KUALA LUMPUR, Feb 22 — Deputy finance minister Datuk Seri Ahmad Maslan today said that the top 20 per cent of earners (T20) in Malaysia are

"monopolising” the Employees' Provident Fund with their savings making up the bulk of the total amount.

In contrast with other groups, the T20 also saw the savings in their EPF accounts increase by 11 per cent during the Covid-19 pandemic, he noted during the winding-up speech of his ministry at Parliament today.In April 2020 the total number of funds in the EPF accounts belonging to T20 account holders was RM538 billion, which then increased to RM597 billion by December 2022, he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

QuickCheck: Is the Finance Ministry offering RM300 in monthly aid?With the rising cost of living, more people are tightening their belts to cope with higher expenses on all fronts.
Source: staronline - 🏆 4. / 75 Read more »