T20 withdraw savings via i-Sinar to invest in gold, stocks

 

Almost half of the people in the T20 income group who were polled by the UCSI Poll Research Centre said they used - or would use - their i-Sinar withdrawal to invest in gold and stocks.

According to the survey, most of them are aged 40-55.

The survey involved 809 people with 47.7 percent from the T20 group, 31.1 percent from the M40 group and 35.3 percent from the B40 group responding that it would be for this purpose.

“Interestingly, investment was one of the main reasons for an i-Sinar withdrawal, particularly among the T20 group.

“Even in these challenging times with the Covid-19 pandemic, there are people who see an opportunity and seize it,” the research centre said in a statement today.

It added that for those aged 26-55 in the B40 and M40 income groups, repayment was the main justification for their Employees Provident Fund withdrawal.

The research centre also found that only 48.6 percent of respondents used the money for food and groceries.

- Bernama