Malays’ median EPF savings down to RM5,500, says Ahmad Maslan

 

Deputy finance minister Ahmad Maslan said that the all races median EPF savings prior to the pandemic was RM16,600.

KUALA LUMPUR: The median Employees Provident Fund (EPF) savings for Malays is down to RM5,500 due to withdrawals during the Covid-19 pandemic, says deputy finance minister Ahmad Maslan.

“This is among the reasons why we are not allowing withdrawals again this time around,” he said during a press conference at Parliament.

Ahmad said that the median EPF savings for all races prior to the pandemic was RM16,600.

“But after the withdrawals, it is now only RM8,100,” he said.

“The Malays, who consist of more than seven million members, had RM16,900 before Covid-19. Now, they are only left with RM5,500,” he said.

Ahmad also said more than RM145 billion was withdrawn by 8.1 million individuals during the pandemic under four special withdrawal schemes.

Yesterday, Perikatan Nasional chairman Muhyiddin Yassin had called on the government to consider allowing another one-off targeted withdrawal from the EPF for those financially affected by the pandemic. - FMT