KUALA LUMPUR: The withdrawals under the Employees' Provident Fund's (EPF) i-Sinar scheme is seen to have a positive immediate impact on the real economy as it supported domestic consumptions.
Bank Negara Malaysia (BNM) deputy governor Datuk Abdul Rasheed Ghaffour said that in terms of retirement savings, however, the buffer needed to be strengthened and rebuilt.
"That is why the labour market reform is critical in ensuring that people have better jobs, better income so that they could save further to increase their financial buffers in terms of retirement savings," he said in a webinar organised by the Malaysian Economic Association.
He said the reform measure in social protection is also important, particularly with regard to the social insurance part and the private retirement scheme, as it could help in strengthening further retirement benefits.
On the i-Sinar withdrawal impact to the financial market, he said BNM's focus has always been to mitigate the potential impact arising from market destruction that is to ensure sufficient liquidity onshore to support financial stability.
"The debt and liquidity of the onshore financial market had been an important factor in ensuring adjustment had been made broadly and orderly, underpinned by healthy year-to-date daily trading volumes in the forex and bond market," he said.
MIDF head of research Imran Yusof said he also viewed the i-Sinar withdrawal, particularly the blanket one, as positive to the real economy.
He said the withdrawal also won't impact EPF's liquidity which he described as one of the big players in the equity market and has sufficient liquidity to support the market.
"It (EPF) also has a very diversified portfolio in terms of investment such as in fixed income, stock market and properties," he said.
He said the withdrawal of blanket i-Sinar had also resulted in additional cash in the pockets of those who do not really need the assistance.
"One thing that we noted last year when the blanket loan moratorium was given out was the spare money for those who do not really need them was either being consumed or invested.
"We saw retail participation in the stock market came back in a big way last year. The trend seemed to continue this year as year to date, net buying from retailers amounted to about RM5 billion," he said.
Meanwhile, Amundi Malaysia chief investment officer for fixed income Eridani Tutiana Jusat said although the i-Sinar withdrawal impact is positive for the local economy, she remained cautious over its impact on the domestic bond market.
"We are a bit cautious because EPF is a big investor in Malaysian government bonds. If there is less support from the EPF on the bond market, this will weigh on the market," she said.
As of March 14, a total of RM52.48 billion involving 5.94 million applicants for the i-Sinar scheme had been approved.
-- BERNAMA
Bernama
Fri Apr 02 2021
Abdul Rasheed said that in terms of retirement savings, however, the buffer needed to be strengthened and rebuilt. -Filepix
Bau busuk bongkar skru tertanam dalam hidung
Doktor berjaya menemui objek mencurigakan berwarna hitam dalam rongga hidung kanak-kanak itu dan ia disahkan melalui imbasan CT di kepalanya.
[LAPOR LANGSUNG] Letupan baharu menggegarkan Beirut
Rakaman video menunjukkan letupan itu menerangi pinggir bandar selatan yang padat penduduk.
Letupan baharu menggegarkan Beirut
Letupan kuat itu bermula hampir tengah malam dan berterusan hingga Ahad.
#AWANIRingkas 6 Oktober 2024 | 9 AM
Berikut merupakan rangkuman berita setakat 9 pagi, 6 Oktober 2024
1️⃣ Keperluan tenaga boleh baharu
2️⃣ Menjelang Belanjawan 2025
3️⃣ Banjir di Perak dan Selangor
#awaniringkas
1️⃣ Keperluan tenaga boleh baharu
2️⃣ Menjelang Belanjawan 2025
3️⃣ Banjir di Perak dan Selangor
#awaniringkas
KPT akan pastikan capaian internet di IPTA berada di tahap tertinggi - Zambry
KPT sedang berusaha memastikan capaian Internet di semua IPTA berada pada tahap tertinggi.
AWANI Ringkas: Keperluan tenaga boleh baharu
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Enam rakyat Malaysia selamat tiba dari Lubnan, jumlah keseluruhan kini 17 orang dievakuasi
Wisma Putra dalam kenyataan segera memaklumkan, seramai enam orang lagi turut dijadualkan tiba di Malaysia malam ini.
Bekas gabenor New York, anak tiri diserang empat individu
Kedua-dua mangsa mengalami kecederaan di bahagian muka serta badan dan dikejarkan ke hospital untuk menerima rawatan.
Tentera AS lancar serangan di bandar Yaman
AS menyerang 15 sasaran Houthi di kawasan yang dikawal oleh kumpulan yang disokong Iran itu.
Korea Selatan pindahkan 97 rakyatnya dari Lubnan
Kementerian Luar Korea Selatan maklumkan, kesemua mereka tiba di Korea Selatan pada petang Sabtu.
Akaun Fleksibel KWSP: Solusi segera atau risiko jangka panjang?
Keputusan untuk mengeluarkan wang dari Akaun Fleksibel KWSP perlu dibuat dengan berhati-hati, dengan mempertimbangkan keperluan semasa dan perancangan masa depan.
Mohd Zuki dilantik pengerusi KWSP baharu
Mohd Zuki menggantikan Tan Sri Ahmad Badri Mohd Zahir yang telah memegang jawatan Pengerusi KWSP sejak 1 Mei 2020.
KWSP peruntuk RM97 bilion bagi pelaburan domestik pada 2023 - MoF
KWSP peruntuk RM97 bilion atau 83 peratus daripada jumlah peruntukan dana untuk pelaburan domestik pada tahun ini.
Inisiatif BAITI bantu golongan M40 miliki kediaman pertama
Program inisiatif BAITI menawarkan bantuan kewangan kepada golongan M40 memiliki rumah pertama mereka di Lembah Klang dan Selangor.
KWSP catat jumlah pendapatan pelaburan RM33.19 bilion pada separuh pertama 2023
KWSP merekodkan jumlah pendapatan pelaburan sebanyak RM33.19 bilion bagi separuh tahun pertama berakhir 30 Jun, 2023.
KWSP cadang 'Akaun 3' untuk pekerja tidak formal, benarkan keluaran fleksibel
KWSP cadang Akaun 3 diberi kelonggaran untuk membuat pengeluaran sebarang jumlah pada bila-bila masa.
ISWC 2023 himpun lebih 2,000 delegasi, perkasa sistem perlindungan sosial negara
Persidangan berkenaan dilihat mampu mencari penyelesaian dan menambah baik sistem perlindungan sosial di negara ini.
Dana KWSP tidak wajar digunakan untuk biaya belanjawan defisit kerajaan - Pakar Ekonomi
Dana Kumpulan Wang Simpanan Pekerja (KWSP) tidak wajar digunakan sebagai pinjaman untuk membiayai belanjawan defisit kerajaan.
'Potong 20 peratus subsidi petrol, salurkan kepada dana pencen KWSP' - Penganalisis
20 peratus subsidi petrol wajar dipertimbangkan untuk dimansuhkan dan disalurkan kepada dana pencen kepada pencarum Kumpulan Wang Simpanan Pekerja (KWSP).
Akaun 2 jadi cagaran: KWSP masih perinci kaedah, menilai semua faktor
KWSP sedang menilai dan memperincikan kaedah terbaik serta pertimbang semua faktor yang relevan bagi memastikan pelaksanaan yang lancar.