Wee pokes holes in proposal to credit RM500 into EPF accounts

MCA president Wee Ka Siong (BN-Ayer Hitam) today questioned Putrajaya’s proposal to set aside a RM1 billion allocation for the purpose of crediting RM500 to Employees Provident Fund (EPF) contributors who have less than RM10,000 in their EPF Account 1.

In his debate on the government’s Budget 2023 bill, he said since the proposal targets contributors aged 40-54, the maths do not add up and most would not benefit from the plan.

He explained that most EPF contributors within that age range would have...