YOURSAY | Account 1 EPF withdrawal will later affect those in old age

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YOURSAY | ‘Something must be sacrificed by EPF to allow the early withdrawals.’Umno figures cry foul over EPF withdrawal conditionsI-sinar conditions too strict, unfair - economic expertMalaysia Bharu: This whole idea of withdrawing from Account 1 is a bad idea.The Employees Provident Fund (EPF) is the sole mandatory retirement saving for those in the private sector, especially those in the medium and lower ranks with limited funds.We often see the plight of retirees who have unwisely used up their retirement fund on frivolous needs.EPF funds are best left with the EPF even after retirement as they pay good dividends and they have many schemes to release these funds periodically in the best interest of the retiree's upkeep in old age.While the current needs of those whose income is affected by the pandemic is urgent and understandable, withdrawing from Account 1 is not the…