Give Bandar Malaysia and other projects to EPF, says Najib


Chan Kok Leong Mohd Farhan Darwis Ragananthini Vethasalam

Another way to help EPF is to restructure the dividend payout, says Najib Razak. – The Malaysian Insight pic, November 1, 2021.

THE government should give Bandar Asean (formerly Bandar Malaysia) to the Employees Provident Fund (EPF) to help it replenish its funds, Najib Razak said today.
 
Other lucrative projects such as Kwasa Land, the Battersea project in United Kingdom and PLUS should also be given to EPF, said the Pekan MP during the debate on the RM332.1 billion Supply Bill 2021 in Parliament today.
 
“These projects should not be given to cronies,” said Najib, who was convicted for corruption last year.
 
Further, Najib said that EPF should restore the employer and employee contributions to the statutory amount.
 
“Another way to help EPF is to restructure the dividend payout where the lower savings receive higher dividend while the higher savings only get minimum dividends,” said the former prime minister.
 
The multi-tiered dividend payout, said Najib, can be extended to ASB, ASM and Tabung Haji.
 
While Najib proposed for ways for EPF to replenish his funds, the former Umno president said that EPF should raise the i-Citra withdrawal limit to RM10,000.
 
“I hope the government will consider this as many people are asking for it,” he said.
 
It was reported in September that 46% or 5.8 million of EPF depositors below the age of 55 have less than RM10,000 in retirement funds.
  
According to EPF, 19% had less than RM1,000 while 18% had between RM1,000 and RM5,000 as their retirement funds.
 
Another 9% had between RM5,000 and RM10,000, EPF said in a chart on members’ inadequacy of retirement income. – November 1, 2021.
 


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Comments


  • Unbelievable suggestion. Putting the Rakyats money at risk.

    Posted 3 weeks ago by Bartok D