PETALING JAYA: Around 100 individuals from every state in the country gathered in front of the Parliament building in Kuala Lumpur to demand a 30% leniency in withdrawing from their Employees Provident Fund (EPF) Account 1.
Secretary-general of the Pertubuhan Gagasan Inovasi Rakyat Malaysia (PGIRM) Putri Fira Affandi called for these contributions have to be transferred to the contributor’s bank account or Flexible Account expeditiously, Harian Metro reported.
“We demand equal rights for underfunded contributors with balances below RM20,000 and those who no longer have any balance,” she was quoted as saying.
The rally also submitted a memorandum listing their demands to a few Members of Parliament such as Kubang Kerian MP Datuk Seri Tuan Ibrahim Tuan Man and Pendang MP Datuk Awang Hashim.
ALSO READ: 3.45 million EPF members transfer RM10.86 billion to flexible account as of June 10
Tuan Ibrahim showed his support toward the memorandum, noting the current state of the nation’s economy and the rising cost of living.
Meanwhile, the Pendang MP also expressed his hope that the government will take heed of the demands by the contributors who he said are “rebuilding” their lives at a time where EPF coincidentally formed the Flexible Account or also known as Account 3.
Awang added that their demands were “reasonable” for both EPF and the contributors also mentioning that 10% to 30% figure is said to be a “threshold” value for EPF for financial transfers to the contributor’s Flexible Account.
“According to EPF, they do not set a target percentage for transferring to the Flexible Account. This demand from contributors provides a threshold value for EPF to make transfers,“ he was quoted as saying.
READ MORE:
One in four Malaysians exhaust EPF savings within five years of withdrawal age
High number of withdrawals from EPF Account 3 similar to stealing from the poor to benefit the rich: SPCAAM
