No decision has been made by the government on the age limit for the Employees Provident Fund (EPF) withdrawal for private sector employees, Human Resource Minister Dr S Subramaniam said today.

He advised EPF subscribers not to believe in rumours or speculations that those from the private sector could only make their EPF withdrawal after they had reached 60 years old.

He said this in response to concern raised by EPF subscribers over the age limit for EPF withdrawal, which could now be done after reaching the age of 55, following the tabling of the Minimum Retirement Age Bill in Parliament last Wednesday, which set the minimum retirement age for private sector employees at 60, effective January next year.

Speaking to reporters after opening a seminar on improving the administrative system of Social Organisations in Kuala Lumpur, Subramaniam said the ministry understood the concern raised by subscribers and would discuss the matter with EPF.

In another development, he said the ministry was discussing with EPF to introduce a special pension scheme for private sector employees to address the problems of poverty and high living cost facing them after they went on retirement.

“No decision has been made and we will continue to discuss the matter with EPF,” he added.

- Bernama