QuickCheck: Does the EPF allow only monthly withdrawals for those 55 and up?


GIVEN how important the Employees Provident Fund (EPF) is to Malaysians, with many people holding an account with the fund, it is reasonable to say that any claim of an announcement regarding withdrawals would go viral rapidly – regardless of whether it is true or not.

Recently, a poster claiming that EPF contributors who have reached the age of 55 can only withdraw their savings on a monthly basis went viral on social media.

Is there any truth to this?

VERDICT:

FALSE

Communications and Digital Minister Fahmi Fadzil said he had sent the poster to EPF chief executive officer Datuk Seri Amir Hamzah to ask for confirmation and added that he had been told the fund had no intention of applying the policy to existing contributors at present.

"As the minister in charge of communications, I sent the poster to (Amir) to check its authenticity and he told me that the matter was still in the study stage and EPF had no intention of applying the policy to existing contributors at present," he said.

Speaking at the state-level Kita Madani programme in Banting on Sunday (July 9), Fahmi said the public should check with the Madani Community when it comes to viral news.

Fahmi said the Madani Community has an important role to play in ensuring that matters are referred to the relevant authorities so that a full and clear statement can be made.

"The Madani Community is the right platform to continuously provide up-to-date and authentic information on government policies and initiatives. Apart from this, it is also a platform to explain and fight issues, slander and the spread of fake news," he said.

A total of 1,878 branches of the Madani Community – a multiracial volunteer body managed by the Information Department – have been established throughout the country.

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