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MP SPEAKS | The decision to impoverish workers is political and not fiscal. It is ironic when we have to teach the government to be responsible.
The government that uses workers’ savings to support its social protection policies is being irresponsible and complacent.
In other words, workers are being asked to look into their pension savings to help them manage their current financial challenges, when in fact they are in dire need of state support.
At the beginning of the year, the government introduced the i-Lestari scheme that allowed taxpayers to withdraw RM500 per month from their Employee Provident Fund (EPF) Account 2 for a period of 12 months, benefiting around 4.7 million of people.
Budget 2021 proposes a similar approach, with a withdrawal of RM500 for a period of 12 months from Account 1 to help reduce the financial burden on workers. But the figures do not favor the proposal of Prime Minister Muhyiddin Yassin’s administration.
For example, in 2018, EPF estimated that 38 percent, or 2.8 million out of 7.36 million members …
