The EPF Withdrawal Scheme received a varied response, with some in support of withdrawals and others opposed.
People can now withdraw money from their provident fund accounts once again, according to the government. This announcement has elicited conflicting reactions, with some individuals supporting it and others opposing it.
The public can request for withdrawals from April 1 to April 30, according to a message from the Employees Provident Fund (KWSP), and the cash will be released on April 20.
When it comes to whether or not people should be permitted to withdraw money from their provident fund accounts, those who agree feel that the deposits in the account are their own money, and that they have the right to determine whether or not to spend them. Some people believe that a ringgit of 10,000 can still buy a lot of items. After the case of inflation, 10,000 ringgits now may be worth only 5,000 ringgits in 20 years.
Some individuals believe that if you want to live in the moment, you should first make sure you can get through the current situation without too much difficulty, and then worry about the difficulties once you retire. As a result of the fact that several of their friends have died before they retire, these people believe they should withdraw from the provident fund.
Furthermore, some people may believe that even if they don’t need the money right now, they can withdraw it as a reserve fund, ensuring that they have a fund to deal with in the event of an emergency. People who have the ability to invest believe that their investment will yield larger returns than the Provident Fund Board.
However, some people are opposed to the withdrawal strategy. They believe the money has been removed, so what should they do now that they are retired? Opponents of the withdrawal plan primarily argue that the provident fund should be used after retirement rather than being drained now.
Some people are concerned that the government’s provident fund withdrawal plan will have an impact on the Provident Fund Board’s dividend distribution next year, because Finance Minister Tengku Zafrul stated that without the withdrawal plan, this year’s dividend should be 6.70 percent instead of only 6.10 percent.
Most people still believe that only those who require it will request for withdrawal, while those who do not will retain their money in their provident fund accounts to collect interest.
