MIER: Sound economic reasoning should guide EPF withdrawals

The Malaysian Institute of Economic Research (MIER) has opposed a call made by certain quarters to allow Employees Provident Fund (EPF) members to withdraw additional funds from their retirement accounts, arguing that such withdrawals should be guided by sound economic reasoning.

“The EPF is not designed to deal with calamities and pandemics, rather, it is intended to ensure that its contributors enjoy a decent life after retirement.

“This is compounded by the fact that Malaysia is fast becoming an ageing society. Malaysia is just nine years short of becoming an aged nation in 2030, and further EPF withdrawals will put...