PM says EPF withdrawal stays at 55

EPF withdrawal stays at 55, says Najib

BY NEVILLE SPYKERMAN

 

KUALA LUMPUR: EPF members will retain their right to withdraw their money at age 55,  said Datuk Seri Najib Tun Razak on Thursday. 

The Prime Minister said that more than 50,000 members have taken EPF's survey and the majority want to withdraw at 55. 

"I want to assure them EPF will allow them to retain the right to make withdrawals at 55," said Najib while delivering his keynote address at Invest Malaysia 2015 at Mandarin Oriental KL. 

He said subsequent contributions would be retained in EPF until retirement. 

Najib also announced EPF has embarked on an initiative to offer Syariah compliant investment options for its members as of 2017.

"This will create the largest Syariah fund of its kind in the world, and will further strengthen Malaysia's position as a leading Islamic financial centre," he said.

Najib pointed out that Malaysia is well place to drive the sustainability agenda further.