Monday, 11 May 2009

EPF proposal to stop one-lot withdrawal faced strong protest

The proposal to stop the people to withdraw all their EPF money one go after reaching their retirement age came under fire by a lot of people. Sabah DAP had conducted a statewide enquiry concerning the matter.

The Kota Kinabalu Member of Parliament cum Sabah DAP state chairman, Dr. Hiew King Cheu said the proposed EPF withdrawal scheme was totally shot down by all the people. The new measure is to disallow the EPF contributors to withdraw all their EPF money upon retirement age of 55, and 30% of the contribution sum at the age of 50 as announced, and the money shall be paid in monthly or yearly installments. The government claimed that most of the contributors finished all their money within a few years and ended up in difficulties. Dr. Hiew found out from many that this was not true, and many of the contributors had is fact made good used of the EPF money for good investment like housing and children education, of which he himself is a good example. The monthly or yearly installment can not facilitate investment scheme which require large sum. Further more, the interest and profit that we can earn outside the EPF scheme, could be much more profitable. Any way, this is the people’s money.

Therefore, the government should not be telling us how to spend our money, but instead the government should be creating more opportunities for the people to make use of their live saving money to invest to earn more money and be richer. The government refused to pay the EPF money at one-go, signifying their incapability to pay out to the contributors. Where is our EPF money then? The government unable to cope with the economy recession and drop in business investment opportunities had resulted in the government to turn to the people for money. The EPF proposal is one of their “contingency plans”, and there will be many other plans to “squeeze” for money, like the “ASM” shares? ASM shares had brought the government some RM50 billion, (borrowed from the people), of course they will pay interest, but how much? Do not repeat the SAS case. For the RM70 billion to be used for the Stimulus Plan, the quickest way is to take from the EPF coffer. The government had done this in the past, why not now again?

Why can’t the government think of profitable plans to bring about economy growth, bring in foreign investors, develop our agriculture, fisheries, live stock, and plant more paddy to reduce import of rice? All these can help the whole country in the long run. We must carry out immediately to implement all the essential plans and action. Don’t just sit there and wait until doom’s day.

Dr. Hiew King Cheu. KK MP


亚庇国会议员兼沙巴民主行动党州主席邱庆授博士说,有关退休人士提出公积金的建议中的新措施是完全不合理,也受众人强烈反对。 这项建议中的新措施是在五十五岁退休后,不能够一次过拿完所有的公积金,而将只以每月或每年的分期付款方式拿钱。 之前五十岁时只能取得该数额的30 %,而在五十五岁退休后可以全数取出。 政府声称,大部分的退休人士会在几年之内把钱用完,而面对经济困境。 邱博士说这是不正确的,因为许多人拿到公积金后有很好的计划,如投资房屋和子女教育基金等,而邱氏自己就是一个很好的例子。 每月或每年分期付款不能做任何投资计划,因为这需要一笔钱。 此外投资得到的利息和利润比存放在公积金局里更有利可图。 无论如何,这是人民自己的钱。

此外,政府不应该告诉我们如何使用我们的钱,而是政府应该创造更多的商机,让人们投资以赚取更多的钱。 政府拒绝一次过支付公积金,这意味着他们没有能力支付这笔钱。 我们的公积金在哪里呢? 政府无法应付经济衰退的问题和增加企业投资机会,导致政府必须向人民要钱。 公积金局的建议是他们的一个‘应急计划’,而且会有许多其他计划‘找’钱,如‘马来西亚信托基金’的股票卖出给人民,政府从该信托基金的股票中取得了约马币五百亿(向人民借款),当然,他们将支付利息及利润分红,但是会不会有多少钱?不要像沙巴信托基金一般,搞得人民破产! 政府拨出马币七百亿用于刺激经济配套计划,最快的方法是套取公积金局的钱。 政府在过去曾经如此做过,所以无妨在做多一次!

为什么政府不能想出更好和有利可图的计划,以促进国家经济的增长,引进外来投资,发展我们的农业,渔业和牲畜业,尤其是开发更多的稻田,以减少进口白米? 所有这些可以帮助整个国家的长期发展。我们必须立即执行所有必要的计划和行动。不要只是坐在那里等待末日的一天。