“People are desperate” – Politician Urges Govt to Allow Another Round of Targeted KWSP Withdrawal

As the costs of living continue to rise, the cry for another round of KWSP withdrawal goes on. But will it help in the long run?

Arau MP, Perikatan Nasional (PN)’s Datuk Seri Shahidan Kassim believes that another round of KWSP withdrawal is needed to ensure the survival of the rakyat. In Parliament yesterday (February 20), Shahidan urged the unity government to greenlight a targeted KWSP withdrawal.

“People are desperate and they need to survive”

Shahidan made it clear that the rising costs of living are not making things any easier for the people, and some are even too desperate that they needed to sell off their properties.

“Eventually, they’re left with nothing.”

He then urged the government to discuss this issue immediately and suggested they follow in the footsteps of former PM, Tan Sri Muhyiddin Yassin.

“The government can do what Muhyiddin did by allowing a targeted KWSP withdrawal in stages,” Shahidan explained.

“It’s their right and money”

Shahidan also said that people have the right to access their retirement fund, which is according to section 54 of the KWSP Act 1991. As the first half of 2023 is filled with festive seasons, Shahidan highlighted that the upcoming Ramadhan and Raya festivals are among the reasons why many people are in dire need to use their money.

Not only that but many parents are also expected to spend a lot for the commencement of the next school session on 19 and 20 March, a few days prior to Ramadhan.

But will we see any issues in the cash flow? Not according to Shahidan.

“After seeing the report released by EPF last December, we have seen an increase of contributors and employers’ contributions.”

You can watch and listen to the clip that he has shared via his Facebook page.

Just last week, the Deputy Minister of Finance, Datuk Seri Ahmad Maslan made it clear that he will NOT allow another round of KWSP withdrawals following the decrease of retirement funds for many contributors.

Times are tough, and nothing is more important than money management. Do you think another round of KWSP withdrawal should be greenlit?

Also read: Want Another Round of KWSP Withdrawal? Make Your Voice Heard Again, Says Ex-PM Ismail Sabri