Prime Minister Anwar Ibrahim expects the issue of Employees Provident Fund (EPF) withdrawals to continue to be politicised in the campaign for the upcoming six state elections.
He said that he is ready to tackle the matter to ensure that the EPF does not run away from its fundamental function of providing an employee with retirement savings.
He pointed out that he was one of the most vocal during the pandemic in fighting for the temporary release of EPF funds due to the extraordinary and urgent situation following the spread of Covid-19.
"At that time many were desperate, it was an emergency. Now things have changed, people can work.
"Even though there is much political pressure to approve another round of withdrawals, I stand firm on my decision
"I believe this will continue to be played up including in the six state elections, but we are not perturbed by it," he said when speaking at the opening ceremony of the Menara KWSP Kwasa Damansara in Sungai Buloh, today.
EPF chairperson Ahmad Badri Mohd Zahir and EPF CEO Amir Hamzah Azizan were present.
The opposition has been repeatedly urging the government to allow targeted EPF withdrawals for those affected.
However, on March 20, Anwar insisted that the government needs to find another way to ease the burden on the people.
"I can be popular and allow the withdrawal of EPF, but can a responsible person do that?" he said.
Anwar's alternative solution has been the EPF Account 2 Support Facility (FSA2) scheme, which allows struggling contributors to use their locked savings as support to get personal loans up to RM50,000, with lower interest rates.
Meanwhile, Anwar urged EPF to increase its investment rate in the country to 70 percent.
"I see EPF investment is 64 percent in the country. I just want the investment in the country to reach 70 percent.
"This is for the current needs of the country and taking into account the needs of the people," he added. - Mkini
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