EPF: Covid-19 withdrawals compound issue of insufficient retirement savings

The Employees Provident Fund (EPF) has expressed concern that the majority of its members are now at risk of falling into old-age poverty as Covid-19 related withdrawals have caused insufficient savings to live out a dignified retirement life.

EPF chairperson Ahmad Badri Mohd Zahir said this will not only be detrimental to individual livelihoods, the socio-economic landscape of the country and its fiscal health will also be challenging...