Further savings withdrawals can hurt Malaysia's pension scheme
Not only that, academics also say it will not address the short-term financial struggles of the country
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Kuala Lumpur
THE latest decision to let Malaysians make a fourth Covid-related withdrawal from Employees Provident Fund (EPF) savings may hurt the country's pension system in the long term, without addressing short-term financial struggles, academics warned.
On Mar 16, Malaysia's Prime Minister Ismail Sabri Yaakob said that those facing financial woes can opt for another special EPF withdrawal of RM10,000 (S$3,235) from their retirement savings.
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