UPP, SUPP stand on common ground over EPF issue

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MIRI: Both United People’s Party and Sarawak United People’s Party welcome Prime Minister Datuk Seri Najib Razak’s assurance that the age for full-withdrawal of Employees provident Fund (EPF) remains at 55 with the option for employees to withdraw at 60.

UPP organising secretary and Pujut branch chairman Bruce Chai said giving weight to public opinion was the right way forward for the country.

“It is very encouraging to know that people’s views were taken into account, and having the option to withdraw at 55 and 60 are both wise decisions.”

He said the increasing life expectancy and better health which led to workers retiring beyond 55 was the reason for the move to move the withdrawal age to beyond 55.

“This decision puts to rest rumours of the reasons for the withdrawal age review and clearly showed that EPF financial fundamentals are still strong, and the government was weighing the second option for the benefit of the rakyat and not as an escape route,” Chai said.

He was referring to the rumours swirling in the social media that EPF would be targeted as the cash cow to bail out the much maligned debt-ridden 1MDB sovereign fund.

Meanwhile, SUPP Secretary-General and Piasau branch chairman Datuk Sebastian Ting Chew Yew said retaining the withdrawal age at 55 showed Najib listened to the people’s voices.

“This is good with the government going down to the people to engage and consult in this EPF case, and this should be way forward for any decisions affecting the people’s t interests,” he said.

He said the wishes of employees to withdraw their retirement savings at 55 should be respected while also giving them the option to withdraw later.