Kuala Lumpur: The Employees Provident Fund (EPF) has launched a campaign to encourage retired contributors to keep their savings longer with the EPF to ensure they can use the money throughout the entire period of their retirement.
EPF public relations general manager Nik Affendi Jaafar said that by opting for the Flexible Age 55 Withdrawal Scheme, contributors could withdraw part of their savings at any one time or make monthly withdrawals or a combination of both options.
The flexible withdrawal would also enable the contributors to obtain a fixed and consistent income for a long period, he said in a statement.
Nik Affendi said the campaign would run until Dec 14 and would be promoted over the radio and in the print media.
He said that most contributors opted to make a full withdrawal at the age of 55 and spent their savings within a period of 10 years. - Bernama--Courtesy of The Star Online