Tuesday, January 11, 2022

EPF money is workers' money - Using it impacts on DIVIDENDS? Use government money for charity??

The money in EPF/KWSP is 100% worker monies - no part belongs to the Employer and no part belongs to the Government.

The money in EPF/KWSP is invested and used to generate more money - and the result is HIGHER DIVIDENDS. 

The money in EPF/KWSP is not for the Government to use as it pleases  -  

Former mayor against use of EPF for flood relief


Datuk Lawrence Lai Yew Son

MIRI (Dec 27): The federal government’s decision to use the Employees Provident Fund (EPF) to aid flood relief and recovery efforts in affected communities, has raised questions whether it is legal to do so without the consent of EPF contributors.

Former mayor of Miri and lawyer Datuk Lawrence Lai had raised the issue to the press yesterday following the announcement made by the Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz last Sunday (Dec 19).

“In aiding victims of natural disaster, I believe the government has relevant agencies to handle the financial aid. To use the money in EPF, which belongs to contributors is not right, because these are hard earned money of the contributors,” said Lai.

He added that the federal government should have used the country’s reserved fund instead of the people’s money.

“If they remember, we have National Disaster Management Agency (Nadma), which exists to navigate emergency preparedness, processes and resources.

“However, in the days of the flooding disaster that happened in Selangor, the Nadma’s response had been very disappointing,” said Lai.

Under Budget 2020, he pointed out, Nadma was allocated RM129 million and it received RM150 million under Budget 2021. Thus, he said Nadma should be the agency to provide financial aid to the victims.

He urges Sarawak members of the parliament in the federal government to give a proper explanation as to why there is no objection over the utilization of EPF fund for disaster relief and to question the Nadma’s credibility in executing its role.

“The elected people’s representatives are chosen by the rakyat with the votes. Their salary is paid by taxpayers. If there is any misconduct, they should identify, pointing out and question it, instead of sweeping it under the rugs. Transparency in managing government agencies is crucial to ensure that the rakyat can benefit from it, and not made their life more difficult,” said Lai. - Borneo Post, 27/12/2021

EPF allocates RM10 mln for flood relief programmes

EPF allocates RM10 mln for flood relief programmes
Buang Abdul Basir, 67, (right) being assisted by his sons in removing furniture from their home in the aftermath of the floods in Kampung Jalan Kebun, Seksyen 30, Shah Alam today. - BERNAMA
KUALA LUMPUR: The Employees Provident Fund (EPF) is allocating a sum of RM10 million to aid the flood relief and recovery efforts in affected communities in line with the announcement made by the Minister of Finance Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
In a statement today, EPF said the aid will be channelled through various non-governmental organisations (NGOs) which are responding to the disaster and in collaboration with the Government-Linked Companies (GLC) and Government-Linked Investment Companies (GLIC) Disaster Recovery Network (GDRN).
"In addition to the financial commitment, EPF will be offering the use of its EPF Learning Campus (ELC) in Bangi, which has available 152 rooms with full amenities, to people who have been displaced by rising waters as well as the emergency services that have responded to the crisis.
"As a show of support and solidarity, EPF employees are also on a drive to raise funds through the EPF's Kongsi Rezeki Programme to help flood victims, as well as mobilising resources at EPF branches nationwide to ensure business continuity in the affected areas," it said.
-- BERNAMA, Astro Awani, 19/12/2021


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