As head of the Consumers Association of Subang and Shah Alam Selangor (Cassa), I urge the Employees Provident Fund (EPF) board to discuss with contributors its proposal to disallow withdrawal of total savings at age 55 and to scrap the one-third withdrawal at 50.

The board should be aware that EPF contributors are already an angry lot who have seen their dividends drop drastically over the last 22 years. Contributors are also aware of the controversial use of EPF funds for alleged bailouts and for schemes that have gone against the 'objectives and spirit' of the pension fund.

The current EPF board has failed miserably to protect the rights and interests of contributors and will fail again if they proceed with this proposal without consulting contributors.

With the general election around the corner, it would be extremely foolish and imprudent to test the limits of tolerance of contributors.

If the EPF board decides to go ahead with its proposal, Cassa will initiate a multi-pronged legal action to test this decision in court and also start a nationwide signature campaign.

It is time that transparency, accountability and good governance become the order of the day.