Ever since news broke that our friends across the causeway were allowed to withdraw up to RM$500 per month from Employees Provident Fund (EPF) during the current crisis, it was only a matter of time that folks started eyeing our own CPF for the very same reason – which isn’t always a case of right or wrong.
At times when the most important thing is to put food on the table, a little empathy is needed too. There are many considerations on different levels to this issue, and it appears that our government is far more willing to dig into the country’s reserves to help us, than to allow us to dig in our own reserves.
The policies governing the CPF system were written and refined over the years by people far smarter than me, and meant to prevent us from exploiting loopholes or mis-using the system. In their own words, CPF