'Retirement age not raised so gov't could hog EPF'



Human Resources Minister Dr S Subramaniam currently discharged claims which the supervision is pushing up the smallest early early early retirement age from 55 to 60 so which employees' savings in the Employees Provident Fund (EPF) can be hold longer.

Speaking to the media in Putrajaya today, he reliable which the EPF withdrawal age stays during 55, even yet the smallest early early early retirement age has been raised.

NONE"Rest positive it is not starting up to 60 years to keep money in EPF to support (the government)," Subramaniam (centre) said.
"People will find all to say (against the government)."

He pronounced any changes to the EPFwithdrawal age will usually be made after ample consultations.

"EPF will not have changes now. If they wish to (bump up the withdrawal age), there will be competent conference with stakeholders," he said.

He pronounced companies which wish to extend early early early retirement age to 60 prior to the central implementation of the policy, may do so during their discretion.

"I get (text-messages) from people who have been about to retire, asking if it can be officially implemented today, but it's not so easy," he said.

He pronounced employers, in meetings with the ministry, have been varied in their responses as well as have asked for the beauty duration of anything from one to five years.

"Opinions change as well as we will have the preference which is fair to everyone," he said.

The Bill to push the smallest early early early retirement age to 60 was upheld by the Dewan Negara final week.
Additi ons to outsourcing programme

Earlier, Subramaniam announced which the outsourcing entry point programme underneath the mercantile transformation programme has welcomed 14 some-more brand new companies from December 2011.

The companies embody multinationals AIG, Frost & Sullivan as well as Chartis, which outsource services similar to finance as well as accounting, tellurian resources common services as well as engineering services.

Subramaniam pronounced the companies chose Malaysia not just to cut costs but additionally since of the availability of talent here.

"In the first entertain of 2012, the total of 2,210 brand new jobs as well as over RM318 million in trade income have been brought in by (the outsourcing projects).

"This represents the significant amount when compared to final year, with the 50.2 percent increase in jobs as well as nine percent increase in exports."
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