EPF: No change in withdrawal age for now

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THE Employees Provident Fund (EPF) refers to the letter "Some lives may go haywire" (NST, May 7).

We have of late responded to several letters from readers who have voiced similar concerns relating to the possible amendment to age 55 withdrawal and, as always, we will take all feedback into consideration.

At this moment, any changes to the age 55 withdrawal cannot be finalised until the decision to extend the retirement age for the private sector is announced by the government.

As the objective of age 55 withdrawal is to finance one's retirement, it is only rational for EPF to harmonise it with the minimum retirement age, which will be determined by the government.

We would like to reiterate that the welfare of EPF members remains our priority.

We will make an announcement once a decision has been made by the government.


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