Bank union urges govt to return monies withdrawn from EPF under Covid relief

The National Union of Bank Employees (Nube) has urged the Employees’ Provident Fund (EPF) board to demand the government return the monies withdrawn by B40 and M40 members under the Covid-19 relief package.

The union said the main aim of EPF is to safeguard employees’ retirement savings but the erosion of savings in the statutory body shows the original goals of EPF have begun to shift.

“EPF board’s primary goal should be to protect employees’ retirement savings...