EPF: "Highly Erroneous Statements Were Made"

EPF has clarified that the critical illness scheme has not been launched yet. The scheme has yet to be approved by the finance ministry and EPF is still in discussion with MTUC.

On 11 June, it was reported in NST that MTUC was shocked that EPF had ignored its objections against a critical illness insurance scheme

EPF also said that the statements made by MTUC and Rexit were "highly erroneous". Rexit earlier predicted EPF CI premium to be at least RM3 bil and the minimum cost for the scheme was RM300 per year (see our earlier post below).

Meanwhile, Malaysia Today has an article commenting on EPF CI scheme with its information based on the "highly erroneous" statement. Obviously the figure of RM3 bil doesn't go well with the public at this sensitive time with the current political and high inflationary environment.

We have earlier questioned the assumptions behind the figure of RM3 bil. The best to do now is for the public to wait for EPF's official statement on the scheme before jumping the gun and making all sort of accusations based on "erroneous" statements.

Source: NST, Bernama, Malaysia Today