No change to EPF withdrawal rule in new retirement age Bill

Employees are still eligible to withdraw all their EPF savings upon turning 55 as the current rule is still in place.

Human Resources Minister, Datuk Seri Dr S. Subramaniam, said no change had been made to that rule under the Minimum Retirement Age Bill tabled in Parliament last week.

The Minimum Retirement Age Bill raises the minimum retirement age for the private sector to 60 years, but the move has caused concern among contributors that the withdrawal age will similarly be raised.