EPF looking into concerns of those near retirement
Workers with one or two years to the retirement age of 55 may be allowed to withdraw their EPF savings when the new minimum age of 60 comes into effect, expected next year.
Deputy Finance Minister Datuk Donald Lim gave the assurance that the concerns of such workers would be looked into.
A little too late. … but why can’t they push this regulation throught. Do the EPF board need to take that long? Many who are affected by the financial crisis back in the late nineties have long suffered in silence. They have money, but EPF is holding it on to it and use it to bail out crony projects in the name of national service.
Or is this a populist announcement to get those affected to vote BN?
He said the EPF board had not decided on the matter.
The Minimum Retirement Age Bill 2012 was tabled for first reading in the Dewan Rakyat on Wednesday. When passed, it will see the retirement age increased from 55 to 60.
?If we decide to extend (the retirement age) to 60, I believe there will be measures taken by EPF for those who have made plans, for example those who are 53 or 54.
“I believe they will be allowed (to withdraw early). But the actual measure will be announced later,? Lim said after launching the Golden Bull Award 2012 on Thursday.
Lim said the EPF board would discuss the matter and make an announcement ?in due course?.
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