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bossku says he wants jiuhu cpf to allow 10k withdrawal
- Thread starter kaninabuchaojibye
- Start date
bossku says:
When the Covid crisis began to hit, I once suggested that the government allow contributors to withdraw money from the EPF 2 account as one of the efforts to help the people and boost the local economy during Covid.
At that time, the government welcomed and implemented it as an i-Lestari program in the Caring package.
There are now many requests for the government to allow "one-off" releases of up to RM10,000 from the EPF 1 account for urgent use.
I think this application can be considered provided the applicant also signs a letter of commitment to re-contribute to this "one-off" withdrawal within the next two years after the economy recovers - excluding regular monthly contributions.
However, I would like to advise that the EPF dividend is usually higher than the bank savings interest rate and the EPF savings are very important for our old age after retirement.
Therefore, do not make EPF withdrawals if there is no urgent use.
NOTE: I suggest the condition of undertaking is not a reason to want contributors to repay such as loans but the intention is to encourage contributors to increase their old age savings because the EPF dividends are higher.
If you can not repay within 2 years, there is no penalty and the EPF can not do anything. Just to remind the contributors that savings in the EPF are important and will ultimately benefit the contributors
When the Covid crisis began to hit, I once suggested that the government allow contributors to withdraw money from the EPF 2 account as one of the efforts to help the people and boost the local economy during Covid.
At that time, the government welcomed and implemented it as an i-Lestari program in the Caring package.
There are now many requests for the government to allow "one-off" releases of up to RM10,000 from the EPF 1 account for urgent use.
I think this application can be considered provided the applicant also signs a letter of commitment to re-contribute to this "one-off" withdrawal within the next two years after the economy recovers - excluding regular monthly contributions.
However, I would like to advise that the EPF dividend is usually higher than the bank savings interest rate and the EPF savings are very important for our old age after retirement.
Therefore, do not make EPF withdrawals if there is no urgent use.
NOTE: I suggest the condition of undertaking is not a reason to want contributors to repay such as loans but the intention is to encourage contributors to increase their old age savings because the EPF dividends are higher.
If you can not repay within 2 years, there is no penalty and the EPF can not do anything. Just to remind the contributors that savings in the EPF are important and will ultimately benefit the contributors
10,000 RM in jiu Hu land is nothing, their interest is 6 percent and their inflation even higher,if they don't spend now then when.....when ringgit is 10:1 USD toilet paper?
In Singapore $1 is very hard to earn,and the interest is next to nothing......if u take out $10,000 some people might have to eat grass for two years in their retirement.
In Singapore $1 is very hard to earn,and the interest is next to nothing......if u take out $10,000 some people might have to eat grass for two years in their retirement.
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u singkies can dream all u want
pap temasek won't allow u do that
otherwise, who's going to fund temasek losses
haaaa
pap temasek won't allow u do that
otherwise, who's going to fund temasek losses
haaaa
Our opposition does not think like BosskuVery good idea! This what the opposition should be doing, unlike some oppies huh.
Why are retards kistening to jailbird
Muhyiddin already thinking the same thing. Except the money goes to gomen in the form of loan instead of members.
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