KUALA LUMPUR, Oct 20 – The government is prepared to consider a proposal to allow the 2.2 million workers who opted for eight per cent Employees Provident Fund (EPF) deduction to revert to 11 per cent if the majority want to do so, Deputy Prime Minister Tan Sri Muhyiddin Yassin said today.
“The government will look into it if the matter is referred to it. The government will consider in terms of what the majority wants,” he told reporters at the Parliament lobby, here.
The Malaysian Trade Union Congress (MTUC) had urged the government yesterday to allow the 2.2 million employees to revert to the 11 per cent contribution as they were losing in terms of dividends and final payout when they reached retirement age.
Due to the economic downturn, the government, in November last year, gave employees the option to either maintain the deductions at 11 per cent or reduce it to eight per cent for a period of two years from Jan 1 this year.
According to EPF, 2.2 million or 40 per cent of employees had opted for the eight per cent contribution. – Bernama
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