Strengthen safety nets, don’t dictate retirees’ use of EPF savings, says social activist

AI Summary

Social activist Voon Shiak Ni urges the Malaysian government to uphold the current EPF withdrawal policy at age 55 without imposing new restrictions. She argues that retirees have the right to full access to their savings upon reaching retirement age and the government shouldn't control how they use their funds. Voon emphasizes that the EPF is a retirement savings fund, not a pension scheme, and individuals should have the autonomy to manage their own finances. She suggests focusing on strengthening social safety nets and improving financial literacy instead of controlling withdrawals.