Money For Nothing

 

Dec 27 2021

Since there is no assurance that the Employees Provident Fund (EPF) can secure Malaysians financially when they have reached the age of retirement, contributors should be allowed to withdraw their own hard earned money with immediate effect.

There is no point whatsoever in contributing to a scheme which is under a government that clearly do not have the intelligence to efficiently govern this country.    

The current representatives whose job is to serve the people first are not doing so but have big fat salaries, allowances and allowed to travel as they please.

In fact, their big fat salaries can easily help cover and contribute to the EPF scheme once Malaysians have withdrawn their savings which is rightfully theirs.

Malaysians can transfer their money to the bank of their choice and manage the finances on their own terms.

Twenty per cent of EPF contributors have now a balance of RM1,000 following the withdrawals of  i-Lestari, i-Sinar and i-Citra.

This was claimed by Prime Minister Datuk Seri Ismail Sabri Yaakob yesterday (Dec 26 2021).

He even went on to mention that he is worried for the contributors as they will not have enough savings when they retire.

If this is the case, the PM has just plainly admitted that EPF has failed in its duty to provide for contributing citizens when they are ready to retire.

And since Ismail Sabri is “Father” of “Keluarga Malaysia”, he is should very well realise what his family members are going through right now.

The Covid-19 pandemic has affected millions of Malaysians in so many ways and in addition to the recent nationwide flood disaster; more and more people are on the verge of desperation and breakdown.

After two years, what research, studies or survey has the government done to find out how much each family needs financially, to weather this period?

As prices of essential goods and the cost of living is getting higher each day, so too is the unemployment rate.

Until today, the government has not been able to give assurance that the cost of living issue will be solved and that those who are jobless since the beginning of the pandemic will be able to work soon.

Dear PM, if the government is not able to give out cash assistance that is of logic and common sense to the people, it is best for the people to withdraw from their EPF and cut their losses now.

An average Malaysian family needs a minimum of RM5,000 at the very least per month for food, drink, baby products, to pay rent, to pay for house and car installments, in addition to phone and internet bills.

And now with the flood disaster, at least an estimated RM500 to RM1,000 is needed for each home for cleaning jobs alone.

To add on, the moratorium on loans given by financial institutions is only a temporary stop payment order which millions of Malaysians will have to continue to pay once it is lifted.

Dear PM, some common sense must prevail especially in times of need, more than ever now. Please use them.