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PM Anwar said the government will have to consider the plight and the future of EPF contributors before they are allowed another round of special withdrawals.

Ahmad Zahid expresses appreciation to Ismail Sabri for announcing that the govt is allowing EPF contributors to make a special withdrawal.

EPF will be providing further details on the government's move to allow EPF contributors to make a special withdrawal of RM10,000, as announced by Ismail Sabri Yaakob today.

The COVID-related withdrawals over the past two years have had a massive impact on the savings of EPF contributors, as currently, only three per cent of contributors can afford their retirement.

As at Jan 4, the EPF has approved 2.5 million out of 3.88 million applications under i-Sinar Category 1.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz today urged Employees Provident Fund (EPF) contributors to beware of scam activities and always protect their personal information.

In total, only 34 percent of EPF active contributors reached the level of basic savings by age.

The Employees Provident Fund (EPF) has approved withdrawals from Account 2 totalling RM1.66 billion by 3.5 million contributors under the i-Lestari initiative launched last month.

EPF contributors may withdraw RM500 a month for 12 months from their Account 2, with total withdrawals estimated to reach RM40 billion.

Employees Provident Fund contributors are now allowed to withdraw a maximum of RM500 a month for 12 months to ease their cost of living due to the COVID-19 outbreak.

Effective July 21, more than 70,000 EPF contributors can use their savings from Account 2 to settle the balance of their education loans, irrespective of their loan agreement dates.

Muslim contributors to the Employees Provident Fund (EPF) were today reminded to take due consideration in making nominations to avoid problems at a later date.

Works Minister Datuk Seri Fadillah Yusof said Budget 2017 announced by Prime Minister Datuk Seri Najib Tun Razak had allocated a certain amount for toll charges subsidy.

The new minimum wage would be implemented in all sectors except for domestic services and maids.

Datuk Seri Najib Tun Razak says EPF contributors will be allowed to withdraw their savings at the age of 55.

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