YOURSAY 'I think I don't want the Employees Provident Fund (EPF) to manage my money any longer than I absolutely have to.'

'Retirement age not raised so gov't could hog EPF'

Anonymous #19098644: The concern of many is that the BN government, which has drastically increased its debts, will turn to EPF (Employees Provident Fund) to fund its growing deficit.

Whichever party in government, it should be responsible and work towards reducing the fiscal deficit.

As for EPF withdrawal, some can handle investing their own money well, many might squander their money and have very little left after 60 when they retire.

The solution is to allow those with less than two years to withdraw at 55 and for those who are now 52 years old to withdraw at 56, those who are now 51 at 58 and those who are 50 at 59 and subsequently those under 50 today to withdraw at 60 years of age.

This gradual process will allow people to adjust. People are unhappy because they don't trust the BN government, even when it means well.

This is because the government has created a situation where there is a credibility gap.

Odin: The national debt is RM471.3 billion. The off-balance sheet debt is RM96.9 billion. PM Najib Razak has just got RM13.8 billion to top up his budget.

The total debt is RM582 billion or 66 percent of GDP (RM881 billion). That is already above the statutory debt limit of 55 percent of GDP.

Anyone with money in the EPF had better start praying very, very, very hard that it'll stay intact.

Jiminy Qrikert: Keeping one's money in EPF any longer than necessary is double jeopardy.

EPF fund managers need lessons in how to invest the rakyat's money. They should learn from the experts at ASB (Amanah Saham Bumiputera) which literally guarantees dividends of between 7% and 8% every year compared to 4.5% to 5.5% for EPF.

And Umno-BN is just waiting to return to power in GE13, after which EPF withdrawal will be raised to 60. That's a guarantee. They will continue to cream the rakyat.

YF: Back in the 1990s, EPF was abused to bail out Umno cronies. Today EPF is used to bail out Umno. Guess where all the money for Umno's "janji dilesapi" bribes been coming from?

Artchan: The problem is that no one trusts the BN government anymore. What is there to stop them from changing the rules next year?

I am inclined to believe that they will push the withdrawal age to 60 as soon as the election is over if BN wins.

All EPF contributors must stop the nonsense from BN by voting them out.

Kgen: Human Resources Minister Dr S Subramaniam said: "EPF would not make changes now if they want to (bump the withdrawal age up), there will be adequate consultation with stakeholders."

What is the matter with our ministers? EPF doesn't make the law; it is Parliament which makes the law. His comment is irrelevant and idiotic and designed to deceive and obfuscate.

Blind Freddo: I wonder if Subramaniam knows how many outsourcing services in Malaysia have gone broke or moved to India. Beats me, what business it is of government to dictate the retirement policy of non-government organisations.

Telestai!: The back-door minister talks about availability talent as a pull factor, but quite frankly I am skeptical.

The current batch of graduates are practically unemployable by multinational companies, no thanks to their poor command of English.

Anyhow, it is welcome news that the government will not be raising the age for withdrawal of our hard-earned savings, for now. I think I don't want them to manage my money any longer than I absolutely have to.

Holden: What's being done to protect the employees of private sector when unscrupulous employers drag their feet in extending benefits made available to public sector?

Some of the most horrendous stories of exploitation are to be found in the private sector.

Kgen: The BN liars can say anything now and change the law after the general elections.

Frankly, what is the point of legislating the retirement age for the private sector to 60, if not to follow it up with EPF withdrawal at 60?

I'm 100 percent sure it is coming. The only way to stop this is to vote out this obscene government.

Somahsundram Somoo: Mr Human Resources Minister, what about Socso Act? Consequential changes not made here? Be consistent on what you say and do.

YF: Donald Lim says 60, you say "not 60", tomorrow the DPM will say "why cannot?", then Home Minister Hishammuddin Hussein will reply "not sure", and finally the premier says "you scratch my back, I scratch your EPF account".

Can you BN folks stick to the same script and stop using multiple ‘Drama Minggu Ini' scriptwriters?

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