A poster claiming that those who have reached 55 years old will no longer be allowed to fully withdraw from their Employees Provident Fund (EPF) account has been going viral.
According to fact-checking unit MyCheck, no such restrictions have been placed by EPF and contributors can withdraw their savings from the account at any time.
EPF said such a restriction would only be implemented if it involved new contributors or if current contributors voluntarily signed on for it.
It was previously reported that EPF may be considering making occasional or monthly withdrawals an option for those who have reached the 55-year-old retirement age.
However, it was also reported that mandatory implementation of this would require detailed research and further discussions with the government.
Prime Minister Anwar Ibrahim had also stated that this suggestion was still being finalised.
He also informed that there were several obstacles to implementing the suggestion such as contributors who have small amounts of savings.
EPF has also come out to deny the viral poster claiming those who reached 55 years old will not be able to withdraw fully from their account soon.
MyCheck and Malaysiakini are part of the Malaysian fact-checking alliance JomCheck.
Through JomCheck, Malaysians can submit requests to fact-check a claim by sending a WhatsApp message to the tipline at 017-477 6659 (WhatsApp text only, no calls) or via this link. - Mkini
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