KUALA LUMPUR (Jan 9): The RM10,000 Employees Provident Fund (EPF) i-Citra withdrawal allowed is not the best solution for contributors adversely affected by the recent floods, says a financial expert. Ahmed Razman said not all the EPF contributors could benefit from the RM10,000 i-Citra withdrawal allowed as about 6.1 million of them currently had savings of less than RM10,000. The issue of the one-time special i-Citra RM10,000 withdrawal has become a hot topic again when some quarters urged the government to consider the withdrawal to lighten the burden of the flood victims. “When they’re used to using their EPF savings in emergency cases, what financial assistance can they turn to if not from their EPF savings when they reach the age of 60? “If one can only withdraw RM500 from the EPF savings, perhaps one can buy food that is sufficient for a month.

Source: The Edge Markets January 09, 2022 12:32 UTC