Concerned about EPF move

I REFER to a recent news report – “UEM Group and EPF agree to waive RM2.9 billion owed by government under new accord”. The EPF is my and millions of others’ main fund for retirement. Helping to reduce the government’s burden is not the duty of the fund.

Government spending is overseen by civil servants. They have iron clad pensions that escalate throughout their retirement period. To assist the government’s burden, these civil servants should take a cut in their pensions and rein in spending.

I fear that this is the shape of things to come where the EPF becomes a bank to draw on with the acquiescence of a board that does not represent the contributors.

If UEM wants to ease the government’s burden, by all means.

Patrick C. Augustin
via email