KUALA LUMPUR, March 16 (Bernama) – Many heaved a sigh of relief today after Prime Minister Datuk Seri Ismail Sabri Yaakob announced that a special Employees’ Provident Fund (EPF) withdrawal of RM10,000 has been green-lighted.

Single mum Faezah Rauf said in a Facebook post that it was good news since school will begin soon.

“One child is going to a residential school, which will require more money. Another child is going to a new school. Their father (ex-husband) has not been providing for them for a few years now. I, too, need capital for my business,” she said.

Netizens were generally thankful for the announcement, although some of them said they won’t be applying for the withdrawal facility.

While it could help reduce the burden of those still affected by the COVID-19 pandemic, it would also benefit the victims of the recent floods.

Ayap Ashraf said in a Facebook post: “Hopefully terms for the withdrawal won’t be complicated. It would help the flood victims and those whose income has been badly affected.”

Facebook user, Rushdi Zura, said she hopes that EPF won’t impose conditions.

In his announcement, Ismail Sabri, acknowledged that it was a hard decision as it involved retirement savings, but that it was the middle path between what is needed now and what is needed later on.

Instagram user, @anissufianb, realises that it will impact her retirement savings, but was grateful nonetheless.

“Alhamdulillah, I really need it right now. There’s just a bit left to survive on. I’ve just started a new job, but haven’t been paid yet. InshaAllah, I’ll top up my EPF account,” she said in the @bernamaofficial comments section.

@belle_naj said: “Alhamdulillah for the people who really need it … hopefully it won’t be squandered on shopping or holidays … though it is your money, spend it wisely … you don’t know what life will be like in your old age.”

Comments on the EPF withdrawal on Bernama’s social media platforms reached more than 3,000 as at 5pm today.

Ismail Sabri urged EPF contributors to maintain their savings if possible and to weigh the situation carefully before making a withdrawal.

In a statement today, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, said the EPF will be announcing measures to deal with decreasing retirement savings.

Source: BERNAMA News Agency