In response to the letter Allowing more EPF withdrawals wrong move , I would like to say I totally disagree with it.

We should be happy that the EPF is allowing for more withdrawals to lessen our current financial burden rather than paying higher interest for our housing loans and other personal loans. Do you know how much money we can save between a 5% EPF dividend and a 7.5% housing loan interest or a credit card's 18% interest? By allowing more money to lessen our outstanding loans balance, we effectively save more money.

Given a choice, let the contributor make the wise decision. Would they rather suffer with more loan repayments now or live a better life later? We might not be living tomorrow if we can't even live properly today. Looked around and see how many loan shark victims we have today. If we have hair, who wants to be 'botak'?