ABCs of Personal Finance
Personal Finance 101: EPF is for retirement. Period.
When the government first allowed EPF withdrawals, I was against it. Even from the FB comments and my conversations, it is safe to say that many of the ones saying they will withdraw since it’s allowed do not need it in the first place. To these people, the withdrawal either gives them money to invest (which is great) or the extra money to spend (which is bad). These people are not the actual target of the ones in need of funds during the pandemic. The real target were these people; people who needs the money for emergencies.