EPF savings low and worrying, MOF says after withdrawal schemes

The impact of the Covid-19-related withdrawal programmes on the Employees Provident Fund (EPF) members' savings is estimated at RM155 billion, the Dewan Negara was told today.

Deputy Finance Minister 1 Mohd Shahar Abdullah said RM145 billion was withdrawn by members under the four withdrawal programmes and almost RM10 billion was from the impact of the reduction of the employees’ share statutory contribution rate.