MEF calls for policies on EPF withdrawals to be reviewed

THE Malaysian Employers Federation (MEF) is calling for the policies on Employees Provident Fund (EPF) withdrawals to be reviewed, taking into account Malaysia’s current minimum retirement age of 60 years.

In a statement today, MEF president Syed Hussain Syed Husman said the withdrawal of one-third of EPF savings for members who had reached 50 years old and full withdrawal at age 55 was introduced when the retirement age was 55.