Kadir: Don't kill the EPF goose that lays golden eggs

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Umno's populist push to allow large sums of money to be withdrawn from the Employees Provident Fund (EPF) may ultimately come back to bite contributors, according to veteran newsman A Kadir Jasin."If the EPF contributors are allowed to withdraw their savings at will, as suggested by these popularity seekers, the pension fund will have to sell billions upon billions of investments to raise cash to pay them."This will depress share prices and may even force it to sell its assets at a loss."In time, it may not even have enough capital to generate meaningful returns to the remaining contributors. This was how many such funds around the world went bankrupt," he said in a Facebook post. Kadir noted that Umno's push is getting popular support, even though this can be detrimental in the long-term."Sadly because many Malaysians are uninformed or are just…