I REFER to the letter "Withdrawal at 55 is okay" (NST, May 17) by C.K.M. of Petaling Jaya and hope the authorities will consider the writer's views.
It is very important to keep one's promises, implied or otherwise.
An employee who has been working for 30 years with the promise that upon retirement, at age 55, he will be able to cash a considerable amount of his Employees Provident Fund savings, cannot be told at the last moment that the policy has changed and he must now wait longer.
I hope the government has not forgotten what happened due to decisions made by banks four years ago.
The banks indiscriminately raised charges, including late payment charges and fines.
As a result, many customers were unable to honour their commitment to the banks. Some also lost their businesses and homes.