Financial planner highlights EPF Account 3 withdrawal benefits and impacts
BY NURFARAHIN BINTI OKI KUCHING: The proposed withdrawal strategy from EPF’s Account 3 to reinvest in Accounts 1 and 2 could have multifaceted effects on the local economy, according to financial planner Kenson Cheong Kwang Siang. Cheong noted that the Employees’ Provident Fund (EPF), particularly Account 3, offers flexibility in response to the evolving financial […]
Unpopular decision, but we said ‘no’ for people’s sake: Anwar
SHAH ALAM: For the sake of Employees Provident Fund (EPF) contributors’ future, the government has taken an unpopular decision to no longer allow special withdrawals from the fund, said Prime Minister Datuk Seri Anwar Ibrahim. He said the EPF is a statutory body entrusted with a big responsibility of protecting contributors’ savings and it has […]
Bumiputeras and Indians most hit by EPF withdrawals
KUCHING: Covid-19 pandemic-related withdrawals amounting to RM145 billion over the last two years have resulted in a significant decline in the median savings of the Employees Provident Fund’s (EPF) Bumiputera and Indian members. An economist at EPF, who declined to be named, revealed to New Sarawak Tribune that Bumiputera EPF members saw a whopping 70 […]
Positive reaction to PM’s EPF remarks
KUCHING: Prime Minister Datuk Seri Anwar Ibrahim’s recent comments on striking a balance between the current needs of Employees Provident Fund (EPF) depositors as well as their future survival received an overall positive reaction from the public. At the same time, however, some felt that a requirement should be in place towards the EPF depositors […]
CUEPACS lauds special EPF withdrawal of RM10k
KUCHING: The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) Sarawak applauded Prime Minister Datuk Seri Ismail Sabri Yaakob’s announcement that RM10,000 from the Employees Provident Fund (EPF) could be withdrawn for eligible contributors. Its chairman, Omar Bahrein Unin, said his congress was aware that the majority of the contributors came […]
Don’t allow ‘premature’ withdrawal of EPF savings
KUCHING: The government should stop contributors from withdrawing savings in their Employees Provident Fund (EPF), said Universiti Malaysia Sarawak (UNIMAS) honorary professor Datuk Dr Madeline Berma. She was commenting on the announcement by Prime Minister Datuk Seri Ismail Sabri Yaakob today who agreed to allow EPF contributors to make a special withdrawal of RM10,000. According […]
Additional withdrawals of EPF can make members poor
KOTA BHARU: When it comes to the Employees Provident Fund (EPF), the pertinent question that is hotly debated now is whether or not to allow additional withdrawals. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said additional withdrawals could result in the members being poor when they retire. He explained that this was due […]
Government to assist economy, businesses
KUCHING: Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching branch chairman Datuk Sim Kiang Chiok suggested that the government should assist the economy and businesses as in the initial MCO in March last year in light of a reimplementation. Datuk Sim Kiang Chiok said that assistance should include a further six months of wage […]
i-Sinar EPF withdrawal scheme gives relief to many
BY ALVERDTEKOSTER ANYAP & SARAH HAFIZAH CHANDRA KUCHING: Many are flooding the Employees Provident Fund (EPF) building here to apply for the i-Sinar Account 1 withdrawal of up to RM10,000. The i-Sinar will benefit eligible EPF members across the country and it is one of the efforts by the government to provide relief to those […]
EPF Account 1: Don’t withdraw unless necessary
MIRI: For the past few weeks, the Employees Provident Fund (EPF) Account 1 withdrawal has been a hot issue in the country. Most of the EPF’s contributors wanted to withdraw their savings (Account 1) after their livelihood was affected by the impact of Covid-19 pandemic. Following the economic fallout, many workers, especially those in the […]
