Malaysians' retirement funds in deeper jeopardy with another withdrawal

Nearly half of the Employees Provident Fund account holders drew down a total of RM101 billion (S$32.53 billion). PHOTO: REUTERS
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KUALA LUMPUR - Sole breadwinner Elyana Rahman was already selling food and cosmetics on the side to feed her four children before Covid-19 struck Malaysia two years ago.

When her business was hit and her salary as an accounts executive was cut by 25 per cent, she had to make a tough choice. "Either I take out my own EPF (Employees Provident Fund) or continue borrowing from people," she told The Straits Times.

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