The Employees Provident Fund (EPF) welcomed Prime Minister Najib Abdul Razak’s support for the members’ consultation exercise from April 21 to May 5.

EPF acknowledged the preference for the second option which preserves flexibility and protects the contributions of members past 55 years.

“This is definitely in line with our preliminary findings of the members’ consultation survey which overwhelmingly supports option two.

“The option offers retaining the full withdrawal age of 55 and to lock in new contributions until the age of 60,” chief executive officer Shahril Ridza said in a statement today.

On EPF offering a Syariah-compliant investment option starting 2017, Shahril said it gives EPF the impetus to start with detailed planning to further develop this option for its members.

“We will share further information soon and the introduction of this option will create the largest Syariah-compliant fund of its kind in the world,” he added.

- Bernama