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Further savings withdrawals can hurt Malaysia's pension scheme
On Mar 16, Malaysia's Prime Minister Ismail Sabri Yaakob said that those facing financial woes can opt for another special EPF withdrawal of RM10,000 (S$3,235) from their retirement savings.
But two academics have pointed out that for the poorest, this isn't going to benefit them as their accounts are already depleted — those who do have money to withdraw will not boost consumption, but instead use it to pay off debt.