EARLY indications show that members of the Employees Provident Fund (EPF) want the age of total withdrawal to be maintained at 55. This is the preliminary outcome from two days of public online consultation over the four initiatives proposed by EPF in response to changing circumstances, in particular, the new mandatory retirement age of 60. The public consultation has two weeks to run its course, ending on May 5. Given the millions of contributors to the fund, along with the rate of response ” 50,000 respondents over two days ” many more are expected to make their preference known. Ultimately, as Prime Minister Datuk Seri Najib Razak has clearly indicated, the members majority wish will be respected. However, for the time being, most participants in the consultation want the withdrawal age to be maintained, but two weeks is a long time in which prudence can get the better of knee-jerk urges.
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