PPIM submits memo to Najib asking for EPF withdrawal

13-Jan-2022 Intellasia | Malaysiakini | 7:05 AM Print This Post

The Malaysian Muslim Consumer Association (PPIM) is urging the Employees Provident Fund (EPF) to allow another round of withdrawal and is making the appeal through former prime minister Najib Abdul Razak.

The PPIM submitted a memorandum to Najib at his office in Bukit Pantai, Bangsar, to be passed on to prime minister Ismail Sabri Yaakob.

Najib returned to his office after receiving the memorandum and did not address the media.

PPIM chairperson Nadzim Johan, who led a delegation of around 10 people, said the withdrawal was necessary as there are still contributors who are not able to find a stable job.

“It’s to settle their outstanding debts, loans, rents and bills,” he said, noting that many had been impacted during the prolonged lockdown last year.

By convention, an EPF contributor can only withdraw from Account 2 based on special circumstances, such as to purchase a house or education purposes.

No withdrawal is allowed from Account 1 except for retirement, incapacitation, death or if someone is leaving the country for good.

However, the government, faced fiscal constraint and unable to provide sufficient aid, had decided to allow EPF contributors to dip into their Account 1.

Finance minister Tengku Zafrul Abdul Aziz has maintained that no further withdrawal will be allowed, pointing out that the government had allowed withdrawals of up to RM71,000 since the Covid-19 pandemic began.

He had cautioned that over six million members have left than RM10,000 left in their retirement savings and further withdrawals will burden the future generation who must support the elderly who cannot afford retirement.

Azmi Mohd Tahir, a delegation representative, said another round of withdrawals should be allowed with no strings attached.

“Many workers see their salary halved or are not getting any at all, small and medium enterprises have shuttered, and many are jobless,” he said.

He added that the request is not limited to the flash floods that have also devastated parts of the country last month.

He added that the memorandum also received 50,000 backers online.

Azmi said the memorandum was submitted through Najib because the ex-prime minister had often urged the government to allow further EPF withdrawals on Facebook.

“Every day, Najib has made many comments about a one-off EPF withdrawal of RM10,000,” he said.



Category: Malaysia

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