Proposed mandatory EPF withdrawal only for those born 2010 onwards

The Employees Provident Fund (EPF)’s mandatory monthly withdrawal which has been proposed will only apply to new members born from 2010 onwards who register with the EPF after its implementation date.

The EPF stressed that the proposal was still being refined and that the first such payout under the proposal would only be made when those new members retire decades in the future.

“Any decision regarding the mandatory monthly withdrawal...