Monday, December 14, 2015

MALAYSIA:::‘No’ to Umno delegate’s call to stop EPF cuts amid rising living costs, says MTUC

he Malaysian Trades Union Congress (MTUC) has rejected a proposal by an Umno delegate at the party’s ongoing assembly for the Employees Provident Fund (EPF) to waive workers’ contributions to cope with the rising cost of living. MTUC secretary-general N. Gopal Kishnam said EPF was a retirement fund and even after saving for 30 years, many employees did not have sufficient funds to support their old age.   “EPF is a retirement fund and based on its own findings, the returns employees get after contributing for more than 25 or 30 years are insufficient. Therefore, we are strongly opposed to this,”