KUALA LUMPUR – In light of requests by some Malaysians for a one-off EPF withdrawal of up to RM10,000, former prime minister Datuk Seri Najib Razak is of the view that it can be considered with conditions.
“These requests can be considered provided that applicants sign an agreement that they will return the contributions back to their accounts within two years when the economy recovers,” he said in a Facebook post today.
He added that the signing of the agreement will not result in applicants having to pay penalties if they are not able to reimburse their accounts within two years.
The intention is to highlight to contributors that EPF savings come with higher interest rates.
In March, Prime Minister Tan Sri Muhyiddin Yassin announced that EPF contributors would be allowed to withdraw up to RM500 a month from their account. – The Vibes, October 26, 2020
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