RM10,000 special withdrawal will not affect EPF's investment strategy - CEO

KUALA LUMPUR: The RM10,000 special withdrawal facility will not affect the Employees Provident Fund's (EPF) investment strategy this year, said chief executive officer Datuk Seri Amir Hamzah Azizan.

"We always have the capacity to address it (withdrawal) but our focus has always been to help members post-withdrawal to restore back their savings because it is important that they find balance for the long-term retirement.

"The scheme has been approved by the government and it will run...EPF will support along the way," he told reporters after the launch of EPF's Sustainable Investment Policy and External Fund Managers Pledge here, today.

The policy was launched by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

On March 16, Prime Minister Datuk Seri Ismail Sabri Yaakob announced that the government decided to allow EPF contributors to make a special withdrawal of RM10,000 to ease the burden of Keluarga Malaysia members who are still impacted by the COVID-19 pandemic.

Members can start applying for the special withdrawal via the portal, pengeluarankhas.kwsp.gov.my, which is also accessible via i-Akaun mobile application, starting tomorrow.

Meanwhile, Amir Hamzah said the EPF is bullish with the reopening of the country's international border tomorrow as it could spur the investment landscape, both foreign and domestic investors.

"Borders reopening will be good for Malaysia, so it will help promote and get things running again.

"From an investing portfolio point of view, we are optimistic that Malaysia will also see growth coming back, and for us, it is important because the domestic portfolio is a very strong anchor for us in the space," he said.

He cited that the EPF is continuously diversifying its investments, and is aggressively looking for better opportunities with Malaysia remaining as an anchor market.

-- BERNAMA