The State of the Nation: Five perspectives on EPF savings-ba

The State of the Nation: Five perspectives on EPF savings-backed FSA2 loans with concession interest rates

MUCH eye-rolling took place when Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim announced in early March that retirement savings with the Employees Provident Fund (EPF) can be used as security for personal loans because interest rates typically charged on personal loans are way above EPF dividend rates. Many saw the announcement as giving in to political pressure, negating the positives of halting pandemic-type premature withdrawals in February this year.

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