PUTRAJAYA, May 1 — Prime Minister Datuk Seri Anwar Ibrahim today said that the Cabinet will discuss a proposal to increase employers’ contribution to the Employees Provident Fund (EPF).
Anwar said this while commenting on the demands from various unions for such an increase to boost employees’ retirement funds.
“It was brought forward to us but the Cabinet will discuss this because it will have an impact on the government's policy and also to the employers so it will have to wait before any decisions,” he told reporters when met at the federal-level May Day celebration here.
Uni Malaysia Labour Centre (Uni-MLC) had reportedly urged the government to increase the employers’ EPF contribution to 20 per cent from the current 13 per cent for those earning RM4,000 and below.
Its president, Shafie BP Mammal, said the increase is necessary to ensure that contributors will have adequate savings in their EPF accounts when they retire.
