KWSP recently announced that it will allocate RM10 million for disaster relief to help the affected communities recover. The announcement has upset members of the fund and they are questioning whether the amount will affect the dividend payout next year.
The employees’ provident fund board (KWSP) money is the people’s savings and PKR president Datuk Seri Anwar believes that the board needs to use the money only at the request of the people.
According to some experts, the KWSP is not a charity or a welfare organization, so it is not advisable for the KWSP to allocate money for disaster relief in the first place. This move by the CPF Board may cause people to resist keeping their money in the CPF Board for fear that their savings will be misappropriated and that future dividend payments will be greatly affected.
The CPF Board responded that the money has been approved by the management and is available for use and will not affect the annual dividend payout. The CPF Board pointed out that the amount is already budgeted for operating costs.
In addition, Prime Minister Datuk Seri Ismail Sabri revealed that the government has no intention to launch a provident fund withdrawal plan for the time being to allow disaster victims to have an emergency. The Prime Minister pointed out that the government has already provided enough aid funds to assist the victims.
