I AM confused that EPF contributors have to fill up Form KWSP 17A (AHL) if they want to maintain their 11 per cent contribution.

In defending the move, Deputy Finance Minister Datuk Ahmad Husni Mohamad Hanadzlah said this would provide evidence one wants to maintain the 11 per cent contribution rate. Why should the contributor have to go through the hassle if he does not want the new rate?

By right, it should be the other way round. Those who want changes should apply.

The protests from Cuepacs and the Federation of Malaysian Consumer Associations are valid because this new deduction is on a voluntary basis and the EPF board should not consider it as mandatory. It’s only in this country that you need to fill up forms for everything.

I hope the EPF board will be sensible enough to ask only those interested to reduce contributions to apply.

If I was given the choice, I would prefer to contribute more as this would ensure a healthy savings and give me better returns when I retire.

I doubt there are many who want to reduce their contribution because the contributors are the ones who are going to end up as losers.

JAYARAJ K.G.S., Sitiawan

Source: NST – November 11, 2008