COMMENT | EPF's proposed savings account an epic blunder

COMMENT | The proposed third account of the Employees Provident Fund (EPF) is an epic flaw because it does not focus on increasing retirement benefits or future investments but provides an avenue to withdraw at any time up to 10 percent of contributions from May.

The government wants to palm this off as a superior savings plan which is better than that of the banks as the EPF dividend rates are typically much higher..