KUALA LUMPUR: The government is carefully evaluating proposals for the Unexplained Wealth Order (UWO) and monthly pension schemes before implementation, according to Finance Minister II Datuk Seri Amir Hamzah Azizan. Speaking at the 2025 National Tax Conference, he stressed the need for thorough study to avoid unintended consequences.
“We will look at good ideas before execution, and I have received suggestions to explore. We will study the matter first and understand the issues involved,“ he told reporters. The UWO, previously advocated by former Klang MP Charles Santiago, aims to hold elites accountable for unexplained wealth.
On pension reforms, Amir Hamzah highlighted concerns over retirees exhausting lump-sum EPF withdrawals prematurely. “Many tend to spend the money quickly, leaving insufficient savings in old age,“ he said. The proposed monthly pension system targets new EPF contributors, separating funds into retirement savings and pension payouts.
The 13th Malaysia Plan outlines this dual-component approach to ensure sustainable post-retirement income. The government remains committed to refining practical implementation methods for both initiatives. – Bernama
