EPF As Loan Collateral - Good Or Bad?
Shing Yee Ling, Licensed Financial Planner, VKA Wealth Planners
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Earlier this month, Finance Minister Datuk Seri Anwar Ibrahim suggested allowing contributors of the EPF to take bank loans by using their contribution as collateral instead of adhering to calls by certain people to again allow withdrawals from the fund. Licensed financial planner Shing Yee Ling talks about the idea behind this, what kind of impact it would have and what to do to ensure you have a safe retirement.
Image credit: Shutterstock
Produced by: Sim Wie Boon
Presented by: Sim Wie Boon
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Categories: financial wellness, government
Tags: epf savings, bank loan collateral, personal finance, pros and cons,