Thursday, August 16, 2012

SAY NO TO PREMATURE WITHDRAWAL

Report in The Star 16 August 2012

This post is mainly to keep a record of public announcements made by the EPF on the issue of withdrawals. Decisions made in haste without sufficient time to hear the views of all stakeholders often result in the authorities involved having to retract their earlier statements. This 'flip-flopping' is a waste of public funds and manpower hours. The current public outcry against the unpopular amendment (section 114a) to the Evidence Act is a case in point.

Report in The Star 16 August 2016

The Star columnist P. Gunasegaran gives his views on why he thinks the EPF announcement defeats the purpose of raising the retirement age from 55 to 60. If EPF contributors are allowed to withdraw the full sum upon reaching 55, they risk having insufficient savings to see them through the next 15-20 years of retirement.  I fully support Gunasegaran's views.

Do read his article.

Related post:

Why it makes sense to leave your money in the EPF



3 comments:

William said...

Maybe the Malaysian Government would like to see how the current model of CPF life works in Singapore. Income for life starts at 65.

Anonymous said...

I support guna's views.

Antares said...

Ah so... before reading the post I actually thought you were campaigning against coitus interruptus! ;-) oxoxoxoxo