Why not flip-flop on EPF withdrawals, Bersatu MP asks Anwar

 

Four tranches of EPF withdrawals were allowed over the past two years for members suffering from the effects of the pandemic. (Bernama pic)

PETALING JAYA: Tasek Gelugor MP Wan Saiful Wan Jan has called on Prime Minister Anwar Ibrahim to consider “flip-flopping” on the issue of withdrawals from EPF.

Wan Saiful said while flip-flopping on policies was generally frowned upon, it could be justified in cases where the government was unable to reach a “consistent” decision.

“As such, I urge the prime minister to flip-flop on the EPF withdrawal issue because the funds in EPF accounts belong to the people, not the government,” he said at a press conference in the Parliament building today.

The Bersatu lawmaker’s remarks came after Anwar on Monday said he had no issue with policy flip-flops if they served the best interests of the people.

During the press conference, Wan Saiful spoke about two individuals who suffered the repercussions of the struggling economy during the Covid-19 pandemic and lost their jobs.

He claimed the duo had hundreds of thousands of ringgit saved in their EPF account 1 but were unable to withdraw the money to buy necessities.

Wan Saiful Wan Jan.

“I met an EPF contributor with over RM300,000 in his account who had to resort to selling his house,” he said.

“I also met another person, a cancer patient, with over RM700,000 in the account, but who had to seek financial assistance for treatment.”

There have been calls for the government to allow another round of EPF withdrawal, with an NGO named Pertubuhan Gagasan Inovasi Rakyat saying the scheme could be targeted at those who needed it.

However, in January, Anwar said other options should be considered to help those affected by the Covid-19 pandemic instead of allowing further EPF withdrawals.

He said most contributors had seen their savings dwindle and allowing more withdrawals would affect their ability to sustain themselves when they retire.

Four tranches of EPF withdrawals were allowed in the past two years because of the effects of the Covid-19 pandemic.

An EPF withdrawal of up to RM10,000 was allowed last year. This followed the i-Lestari and i-Sinar schemes in 2020, and i-Citra in July 2021.

The retirement fund paid out more than RM145 billion after these withdrawals were allowed. - FMT