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GEORGE TOWN: For many, the opportunity to withdraw from their Employee Provident Fund (EPF) Account 1 could not have come at a better time.
A flight attendant, who wanted to be known as Fatin, was relieved when the government changed conditions to allow more
EPF taxpayers to withdraw their savings.
“My company is kind enough to pay me my basic salary. But when I was actively flying, my allowances and incentives were three times the amount of my base salary, ”said Fatin, 25.
He said that most of his colleagues now receive a net salary of between RM 1,000 and RM 1,500 a month.
With a frequency of only one flight per month for each flight attendant, he said many of them were struggling to survive.
“While we are lucky to keep our jobs, our savings may not last long.”
On the EPF withdrawals, he said: “When the government initially allowed only those who had lost their jobs, who had unpaid leave or who had no other source of income to withdraw from Account 1, we were very concerned because it meant eligible.
“We know that the money is intended for our retirement, but we are facing problems today.”
Fatin said she tried to get a part-time job as a waitress at a fine-dining restaurant, but the owner refused to hire her when he found out she would still occasionally fly.
“They were afraid that he would bring the virus to the restaurant,” he lamented, adding that many of his colleagues also found it difficult to get part-time jobs.
For now, Fatin has ventured into selling beauty products online.
He said he would use part of his withdrawal from Account 1 to boost his marketing efforts.
Another butler, who wanted to be known as Ben, 25, said he was in a similar situation.
He was unable to find a part-time job and is struggling with his loan repayments.
“Flight attendants and pilots are considered to be in a higher risk group for contracting Covid-19. Many employers don’t want to give us part-time jobs for that. That’s why we fight to support ourselves or pay our debts, ”Ben said.
Approximately eight million EPF contributors will be able to withdraw up to RM10,000 from their retirement savings under the i-Sinar facility to help them deal with financial difficulties amid the pandemic.
Applications are open starting next month and payments will be made in January.
But there are those who prefer to keep their Account 1 intact.
Package delivery man Muhammad Husaini Johari, 26, said: “Although I welcome the move, I will not withdraw money from my account. It is my money for the future.
“Even though I have a full-time job to help pay my mortgage, I took a part-time job as a food delivery boy two months ago,” he said.
As he recently withdrew some money from his Account 2 to buy a home, Husaini said he was unwilling to touch his EPF savings.
Quality control inspector K. Prakash, 31, also has no plans to use his funds from Account 1.
“Since I am single, I don’t have many commitments. I will save the money for my future. Since I have a full time job, I have no money problems.
“The government’s decision is timely for those who lost their jobs during the MCO. The money can be used to start a business or settle your financial commitments, “he said.
Prakash said that he had previously used a part of his Account 2 to pay for his studies.
“I decided to save my money in Account 1 for the future. I also worked part time during the MCO to generate more income, ”he said.
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