Thursday, September 14, 2017

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MTUC Penang Division is gravelly disturbed with our Prime Minister's statement that the EPF would be in a position to invest in the US. He is quoted to have said that the investments could be in the billions. 

MTUC is of the opinion that any investment of the hard earned money of the Malaysian workers ought to be prudently invested to ensure that there is the best returns on investment. Unless that is ensured there is a real possibility that we the contributors to our old age provident fund would stand to be losers. Given the fact that a huge portion of our EPF funds are now tight up with government bonds we are truly concerned if such investment in the US economy is wise. MTUC Penang Division is wondering if the prime minister is submitting to geopolitical pressures from the US administration. Whatever the case maybe it is our position that EPF's funds should only be expanded with the consent of it's stake holders i.e. the workers for whom the fund is intended in their retirement years. 

On this score MTUC Penang Division calls upon the relevant investment authorities of EPF to state if the said undertaking by our prime minister was discussed and approved by them or was made otherwise. In conclusion MTUC Penang Division calls upon the EPF not to be cowed by the higher powers but to act in an indepent, transparent and accountable manner giving the utmost priority to the well being of its contributors.

Bro. K. Veeriah
MTUC Bahagian Pulau Pinang
d/a No 2965, Jalan Prai
Taman Indrawasih
13600 Prai
H/P No: 016-4184520

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