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EPF frills

So, there are many who are dissatisfied with the current EPF frills. Good.

From The Star:

Workers and employers rail against EPF directive

PETALING JAYA: EPF's move requiring contributors who wish to maintain their existing contribution at 11% to fill up a form has drawn protests from employee and employer associations.

Cuepacs and Fomca regard EPF's arrangement as tantamount to forcing workers to comply, while the MTUC and Malaysian Employers' Federation (MEF) feel it implies that the move was mandatory instead of voluntary.

"This seems like force. Those who are interested to reduce their contribution should fill up the form; not the other way round," said Cuepacs president Omar Osman.

Omar said he believed the majority of contributors from the private sector were not in favor of the move and called on the EPF to come up with the best arrangement that benefited workers for their long-term investments.

According to an EPF statement on Thurs­day, contributors who wished to maintain their 11% contribution rate were required to fill up Form KWSP 17A (AHL) and hand it to their employers for submission to the EPF. EPF will automatically adjust employees' contribution to 8% from January if they failed to fill the form.

On Nov 4, Finance Minister and Deputy Prime Minister Datuk Seri Najib Tun Razak announced a voluntary reduction of employees' contribution from 11% to 8% as part of the Government’s stimulus package for the economy.

Fomca secretary-general Muhammad Sha'ani Abdullah said: "Automatic reduction cannot be regarded as voluntary. The principles of justice should be applied as promised because the change is voluntary. Those who want to maintain it at 11% should not be required to apply."

MTUC deputy president Mohd Khalid Atan said EPF’s directive was not practical.

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My question is: So, what's the final decision?

I hope this statement: "Those who want to maintain it at 11% should not be required to apply" will seal the case.

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