Published: Monday November 26, 2012 MYT 2:14:00 PM
Donald Lim: No change in age limit for full EPF withdrawal
KUALA LUMPUR: The policy allowing Employees Provident Fund (EPF) members to withdraw all their savings at the age of 55 will be maintained for now, said Deputy Finance Minister Datuk Donald Lim Siang Chai.
He said the existing policy would be maintained despite calls from various quarters to raise the age for full EPF withdrawal to 60 following Parliament's passing of the Minimum Retirement Age Bill 2012 in July. He said the proponents of raising the age ceiling felt retirees would have more funds to tie over their retirement should it be raised to 60 years.
Lim said this in replying to a question from Datuk Idris Haron (BN-Tangga Batu) at the Dewan Rakyat Monday. - Bernama