An estimated RM10 billion worth of private consumption will be in circulation by reducing employees' EPF contribution. – The Malaysian Insight file pic, February 27, 2020.
EMPLOYEES can voluntarily reduce their Employees Provident Fund contribution by 4% as part of the Covid-19 stimulus package to boost private consumption, interim prime minister Dr Mahathir Mohamad said today. “The minimum Employees Provident Fund contribution by employees will be reduced by 4% from 11% to 7%, with effect from April 1 to December 31,” he said in a press conference in Putrajaya today.
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