The Malaysian Trades Union Congress (MTUC) has called on the government to be cautious and prudent when investing the Employees' Provident Fund (EPF) money overseas.

bersih konvensyen rakyat 210707 syed shahrir Its president, Syed Sharir Syed Mahmoud said the EPF had been investing aboard for sometime, but if it wanted to increase its investments, it had to be done "very carefully lest it might suffer loses."

"We must emphasise that the EPF is an old age fund and is a hard earned money of the workers; it has to be looked after very carefully," he said.

He was commenting on the New Economic Model announced by Prime Minister Najib   Razak today which allowed EPF to increase its investment overseas.

He said the government should engage stakeholders when implementing strategies involving workers under the NEM.

"We hope the prime minister would meet MTUC and get the workers' views before implementing proposals outlined in the NEM," he added.

- Bernama