2.5 million approvals done by EPF (Employees Provident Fund) for i-Sinar. A total of 3.88 million applications were received 😲.
i-Sinar facility allows eligible members to make withdrawals from their retirement savings as part of a government scheme to support the country’s coronavirus-hit economy.
i-Sinar application registration and status can be access here.
I once asked a colleague why in the world would he want to take out savings from EPF when EPF already saying that most people are not saving enough for retirement. He replied that life is uncertain, we might not live until tomorrow, so taking out his hard earned money from EPF. I personally know that this person is not in need for money but I guess his perspective is also correct.
At the end of the day there is no right or wrong move, just choices in life,
Update : I wrote a small article about EPF's amazing returns for year 2020 here.
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