Is the EPF being looted?

On the 23rd of June 2011, the EPF (KWSP) tabled its annual report to the parliament, declaring a 5.8% dividend and explained that 27% of its investments were in Malaysian Government Securities (MGS) and 32% were in loans and bonds to Govt agencies. A simple chart below summarises the report. At RM 440.52 billion, the EPF is one of the largest funds in the world and represents the life time savings of 12 million private sector employees.

Review EPF Act to stop govt using the money

TAWAU: Member of Parliament Datuk Chua Soon Bui has called for an urgent review of the Employees Provident Fund (EPF) Act 1991 to effectively "stop the Government from continuing to abuse the fund."

She said the Federal Government should lay its hands off the EPF because it is not the Federal government or any ruling party leaders’ ‘piggy bank' which they can simply take out money from under the pretext of helping the poor.

EPF to bail out ill-guided projects?

Najib running out of money? RM1.5bil taken from EPF to fund Nong Chik's housing scheme

At a time when other governments are looking into austerity programs to cushion themselves from a global recession, Malaysia is spending its retirement fund on ill-guided projects. And when a government of the day - the UMNO-BN - unceremoniously plays around with money its citizens have toiled hard for and set apart for their retirement needs, one thing is clear - nothing is safe anymore.

Tapping EPF for housing scheme ‘illogical’

Queville To

Was Prime Minister Najib Tun Razak lying when he said the national revenue had increased by RM26 billion for 2010-2011? 

 KOTA KINABALU: Why is the ruling Barisan Nasional (BN) government dipping into the Employees Provident Fund (EPF) to finance a controversial housing scheme when Prime Minister Najib Tun Razak had announced that the national revenue had grown by RM26 billion for 2010-2011?

EPF funds used as BN pocket money

PKR has bashed a move to use RM1.5 billion from the Employee's Provident Fund (EPF) to help finance those unable to obtain bank loans to buy low-cost public housing units.

"Even banks are not prepared to give the loans. What is the EPF's investment panel doing?

"Why is EPF money being used as BN's pocket money?" asked party vice-president Nurul Izzah Anwar (right) at a press conference today.

EPF in Trouble

EPF IN BIG TROUBLE

SEE FOR YOURSELVES

AND LET ALL EPF CONTRIBUTORS KNOW.

Will you get back your EPF money?

·         One of the largest funds in the world – RM 440.52 billion

·         Represents the life savings of 12 million Malaysians

·         BN govt already spent 60% of the people's savings

Name EPF beneficiaries before it is too late

More than 50% of EPF members have yet to nominate their beneficiaries which could result in a lot of heartache for the family if the unforeseen occurs.

WHEN engineer Farid* died in an accident at the age of 31, it was a shock to everyone, especially his wife Ani*. She had given birth to their first child only a few months earlier and they had just bought a house. Suddenly, Ani found herself saddled with extra financial responsibilities. What kept panic at bay was the thought of her late husband's EPF (Employees Provident Fund) savings to help her cope with their bills and loans.

Gov't unable to repay EPF?

A local financial research group is concerned about the government's increasing debts and is hoping that Prime Minister Najib Tun Razak will be prudent with his 'handouts'.

PETALING JAYA: With a RM290 billion debt hanging over its head and with continued overspending, the government is on a reckless path to self-destruction which could well eat into the people’s Employee Provident Fund (EPF) contributions.

Forwarded Message....on EPF

Wow! The corrupted bastards from BN have abused our money for their own benefit. Damned it

They first denied that Felda was bankrupt and sued Dr Tan Chee Khoon's son for making the allegation. The court threw out the suit thus proving the claim had substance.

Hassle-free EPF withdrawals for MyKad holders

Employees Provident Fund (EPF) members can now apply for hassle-free withdrawals at age 50, 55 or for savings of more than RM1 million.