EPF Warns Rising Use of Flexible Account Could Endanger Long-Term Retirement Savings

The Employees Provident Fund (EPF) highlights that nearly five million members under 55 have withdrawn RM16.6 billion via Akaun Fleksibel, mainly for daily needs. This widespread withdrawal signals growing financial strain among Malaysians, risking future retirement security. Policymakers and EPF management must consider reforms to encourage better financial planning and safeguard long-term savings.