By Mohd Khairul Ramli
The introduction of Flexible Account 3 by the Employees Provident Fund (EPF) has been met with mixed reactions. Some people are concerned that it will allow for easier access to retirement savings, which could leave people with less money in the long run. The current government, painting itself as the champion of the people, argues that this new account empowers citizens with more control over their finances, potentially acting as a lifeline during hardships. However, critics see it as a reckless gamble, a raid on retirement funds that could leave Malaysians financially exposed in their later years. They fear this could destabilize the entire EPF system, jeopardizing the financial well-being of millions and potentially impacting the national economy.