The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) has proposed that the Employees’ Provident Fund (EPF) considers giving a choice to workers on the age limit to withdraw their savings.
Datuk Azih Muda
Its president, Datuk Azih Muda, said workers should be given a choice of withdrawing their savings when they turned 55 or 60.
“EPF should not consider only the importance of the money it handles, but also the future of workers in the country,” he said today.
Commenting on the proposal by EPF to consider changing the permissible age for members to withdraw their savings from 55 years, at present, to the retirement age of 60, he hoped the current age limit was maintained for those in the public and private sectors.
He said there were several factors such as health, lifestyle and jobs which caused a worker to retire earlier than 60.
“EPF has no right to stop a retiree from withdrawing their savings much earlier, and if it (savings) is withdrawn at 60 years, many retirees will find it difficult to cover their daily expenditure and other miscellaneous costs”.