In August 2015, the hot topics for many Malaysian are on the ‘Enhancement Initiatives of EPF Scheme’.
Among the initiatives is to raise the EPF full withdrawal to 60 from the current 55 years old. Personally, I want EPF full withdrawal age to stay at 55, instead of 60 years old.
Do you want EPF full withdrawal age stays at 55?
From 21 Apr till 5 May 2015, EPF is inviting its member to contribute their opinion through the online survey by logging in to i-Akaun.
Since I am an i-Akaun user, so, last night I took some time to log-in, to further understand the enhancement scheme.
Among the questions asked is whether the member agrees or disagrees to raise the current full withdrawal age to 60 years old. Of course, I disagree because I think at 60, I will be too old to enjoy my retirement fund.
Other than this, EPF also shared a few options to maximize EPF members’ retirement funds. The survey consists of a few sections with clear explanations and examples on some of the questions asked.
I spent about 30 minutes completing the survey.
Understand the online survey before providing your feedback
I find that it is important to further understand the meaning of the question ask by clicking on the explanation and examples provided. Because a sentence might not be able to give a clear picture of the actual meaning of that question.
At the end of the survey, the member is given an opportunity to leave a comment.
Overall, I would say EPF had done a great job in creating the online survey to gather feedback from its member. And as of today, more than 50,000 members had responded to the online survey.
Based on the survey, the Prime Minister had also announced that EPF full withdrawal stays at 55.
I would still strongly encourage you to participate in the survey.
Read more: Can we rely on KWSP EPF savings to fund our retirement?
photo credit: QuoteInspector Increasing stacks of coins with bokeh via photopin (license)
