EPF woes

internationally the news of saddam hussein hogs the limelight, while in our country, it seems that the news that is now hogging the limelight is on our employees provident fund (EPF).

on saturday 13 dec. the star headline that EPF proposed a staggered payment after 55 years of age, upset many contributors, who complained that EPF should not decide for them what to do with their own money. FOMCA (federation of malaysian consumers association) president, dr hamdan called it ‘daylight robbery’.

however our PM had reassured us that as contributors, we are free to decide what to do with our own money and no conditions should be imposed on us to keep our money after the age of 55. isn’t this good news coming from our PM? could it be because of what he had said that made the chief executive officer datuk azlan zainol came up with a statement:

“the EPF would like to reassure its members that this review is at the
thinking stage and the status quo remains with regard to withdrawal schemes

thinking stage? hmm… does he and his gang at EPF suddenly put on the thinking cap after our PM sided us as contributors? see, they had already reviewed the proposal… surely at that time they were thinking too…. no? oh yeah perhaps no, that’s why they can come up with such silly proposal in the first place.