Deputy Finance Minister I Mohd Shahar Abdullah told the Dewan Negara today that the impact of the COVID-related withdrawal programmes on the Employees Provident Fund (EPF) members' savings is estimated at RM155 billion.<br /><br />He said RM145 billion was withdrawn by members under the four withdrawal programmes, and almost RM10 billion was from the impact of the employee share statutory contribution rate reduction programme.<br /><br />"The level of savings of EPF members is low and very worrying especially after the implementation of four withdrawal facilities related to COVID-19 namely the i-Lestari, i-Sinar, i-Citra and special withdrawal; and the reduction of the employee share statutory contribution rate for a period of 27 months (April 2020 until June 2022)," he said.
