EPF issues hotly debated in Dewan Rakyat
The Dewan Rakyat is debating issues related to the Employees Provident Fund, including how contributors' savings have dwindled since the onset of the Covid-19 pandemic. – The Malaysian Insight file pic, February 27, 2023.
During the Supply Bill 2023 debate today, Lim Guan Eng expressed concern about the median EPF contributor’s savings dropping from RM16,000 in the year before the Covid-19 pandemic to RM8,100 in 2022. “If most of Petronas’ profits are locked away in a trust the way Norway does it, Malaysians might own assets worth US$1 trillion , which could directly guarantee the future of retirees,” he said.
Wan Saiful Wan Jan meanwhile asked the government to consider targeted withdrawals as the people are facing a difficult time with rising living costs.
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