The government has been urged to give priority to the Employees Provident Fund (EPF) in development and investment projects which could generate lucrative profits for the fund.
The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) president Adnan Mat (above) hoped this would be implemented in the future to enable the EPF to record better growth and distribute higher dividends to its contributors.
“More or less, it will help to grow back EPF contributors’ retirement savings, including those in the public sector,” he said in a statement today.
Adnan said Cuepacs welcomed the i-Sinar scheme that enables withdrawal from EPF Account 1. While civil servant salaries were not affected by Covid-19, he said the scheme may help their spouses who own businesses or work in the private sector.
As such, he advised all EPF members, including civil servants, to get financial consultation from the body’s Retirement Advisory Service or the Credit Counselling and Debt Management Agency, if they have any problems or enquiries regarding i-Sinar.
He said the scheme, which gives access to Account 1 for target groups, is the right decision to aid those affected and at the same time safeguarding the retirement savings of others.
“The decision shows that the government and EPF are listening to the grievances of people affected by the pandemic at the moment,” he said.
- Bernama
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.