Allow contributors final EPF withdrawal, says MP

KUALA LUMPUR, March 1 ― A Member of Parliament in the present day recommended that the federal government permit Employees Provident Fund (EPF) contributors to withdraw their financial savings for the final time.

Datuk Seri Mohd Salim Sharif (BN-Jempol) through the debates on the Royal Address in Dewan Rakyat stated this was as a result of there was an pressing want for some Malaysians to make use of their retirement financial savings for the sake of their survival.

“This is to not deny the federal government’s concern over the problem of contributors’ inadequate retirement financial savings, however to satisfy the wants of Keluarga Malaysia, particularly those that are nonetheless struggling to get better from the Covid-19 pandemic or the latest floods,” he stated.

Therefore, Mohd Salim stated it was time for the federal government to look into the matter, together with in offering focused EPF withdrawal facility, relying on the contributors’ financial savings.

The authorities had beforehand allowed the withdrawals of EPF financial savings by way of a sequence of initiatives, specifically i-Sinar, i-Citra and i-Lestari.

The situation has additionally drawn the eye of a number of MPs together with Datuk Mohd Nizar Zakaria (BN-Parit), M Karupaiya (PH-Padang Serai), Datuk Seri Hasan Arifin (BN-Rompin) and Datuk Dr Xavier Jayakumar (Independent-Kuala Langat).

Hasan opined that the federal government ought to conduct common monitoring and inspections, particularly in rural areas to make sure that merchants didn’t improve the worth of things when the individuals acquired their monetary help.

He stated the rise in costs of products would additionally scale back the buying energy of the individuals.

Xavier stated the suggestion was well timed to assist speed up the nation’s financial restoration, including that the federal government was liable for serving to Keluarga Malaysia, particularly the B40 group.

Meanwhile, a number of MPs from the opposition bloc touched on the rising value of dwelling confronted by the individuals, urging the federal government to instantly take proactive steps to deal with the problem which could possibly be exacerbated by the Russia-Ukraine battle.

Lim Guan Eng (PH-Bagan) recommended that the federal government arrange a worth stability fund to assist the federal government scale back and curb the rise in costs of products.

“I wish to counsel that the federal government present a fund of RM3 billion that may be obtained from the windfall tax imposed within the 2022 Budget,” he stated through the debate.

In a bid to alleviate the burden of dwelling value and bills on the B40 group, Wong Chen (PH-Subang) recommended that the minimal wage be elevated to RM2,700 monthly for every household within the group. ― eNM

source: enewspapermy