EPF withdrawals should not be made too easy – Anwar


KUALA LUMPUR – Employees Provident Fund (EPF) withdrawals should not be made too easy as it is a form of savings for the contributors’ future, said Opposition Leader Datuk Seri Anwar Ibrahim.

He said instead of giving permission to withdraw the EPF savings when disasters, especially floods, hit the country, the government could channel various assistance to the victims.

“Some say that contributors should be given the flexibility to withdraw their own money but I am leaning towards the unpopular opinion that it cannot be made too easy because this small amount of money is to secure their future.

“Moreover, the group is quite poor so if they take the money, in five or six years after retirement, there is no guarantee they will have enough in their accounts for their families and themselves,” he said when debating on the flood disaster at the Special Meeting of Dewan Rakyat here today.

Anwar said the government should channel additional assistance of between RM5,000 and RM10,000 to ease the burden of those affected by the floods.

In the meantime, he also suggested that the government order logging activities, including those that have been approved, to stop temporarily until the study on the risk of such activities is completed so as to avoid rain catchment areas from being affected.

“Do not give new approvals regardless of position, rank or political influence. If you are firm, the Parliament will give its full support,” he said.