The Prime Minister said the proposal was still being fine-tuned and was in its final stages.
The Prime Minister, however, said the proposal was still being fine-tuned and was in its final stages.
Anwar, who is also Finance Minister, was commenting on EPF chief executive officer Datuk Seri Amir Hamzah Azizan’s suggestion to encourage its members, who are 55 years old, to withdraw their savings periodically instead of a lump sum to help them continue saving and to have enough when they retire. He further said the EPF’s current disbursal of its members’ savings in a lump sum at 55 years old may not be a wise step from a social protection standpoint, as the savings will not last long.
On a separate matter, Anwar said the government was in the midst of coming up with measures to protect pensioners, following the Federal Court’s decision to nullify amendments to the Pensions Adjustment Act.
Singapore Latest News, Singapore Headlines
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