KUALA LUMPUR, Aug 1 — The Employees Provident Fund (EPF) has taken note of the government’s consideration under the 13th Malaysia Plan (13MP) to introduce a monthly pension payout scheme for its members.
The agency said the proposal is currently being studied and any decision would only be made after thorough engagements with key stakeholders and careful consideration of members’ long-term interests., and that existing rules and withdrawal mechanisms remain unchanged.
“Any updates will be communicated through official and timely channels once available,” it said in a statement today.
According to the 13MP document released by the Economic Affairs Ministry yesterday, the government will explore new mechanisms to ensure continuous post-retirement income, aiming to improve workers’ well-being, including the separation of EPF contributions into two components, namely retirement savings and monthly pensions. — Bernama
