Stakan SUPP Chairman, Sim Kiang Chiok is of the opinion that EPF savings should be meant for rainy days.<\/p>\n\n\n\n
He said in his personal opinion, the long-awaited proposed EPF A\/C 3 that has finally been announced is beneficial for contributors.<\/p>\n\n\n\n
According to the announcement, A\/C 3 will be a flexible account that allows withdrawals at any time, and it will only deduct a small portion (10%) of the total monthly contribution.<\/p>\n\n\n\n
However, the announcement did not mention how much interest will be earned in A\/C 3 and how it will be credited\u2014whether it will be daily or annually similar to A\/C 1 and 2.<\/p>\n\n\n\n
Sim said EPF savings are intended for our retirement and also contribute to our country’s economy and businesses by fulfilling our country’s capital requirements to invest ,earn and grow.<\/p>\n\n\n\n
During the Covid-19 pandemic lockdowns, he pointed out EPF’s several special drawdowns have assisted its members in covering their living expenses when their earnings were affected.<\/p>\n\n\n\n
From the Covid-19 experience, he stated that every member will face their own difficult days, and hopefully, with this flexible account, members will be more financially secure in their times of need.<\/p>\n\n\n\n
“As with any savings, it should be reserved for our rainy day and retirement, and now EPF caters to both requirements,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stakan SUPP Chairman, Sim Kiang Chiok is of the opinion that EPF savings should be meant for rainy days. He said in his personal opinion, the long-awaited proposed EPF A\/C 3 that has finally been announced is beneficial for contributors. According to the announcement, A\/C 3 will be a flexible account that allows withdrawals at any time, and it will only deduct a small portion (10%) of the total monthly contribution. However, the announcement did not mention how much interest will be earned in A\/C 3 and how it willRead More<\/a><\/p>\n","protected":false},"author":1,"featured_media":31917,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,1,7],"tags":[],"_links":{"self":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/31916"}],"collection":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31916"}],"version-history":[{"count":1,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/31916\/revisions"}],"predecessor-version":[{"id":31918,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/31916\/revisions\/31918"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/media\/31917"}],"wp:attachment":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31916"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}