Its secretary-general Kamarul Baharin Mansor said the information is “worrying” and that EPF needs to find measures to increase the savings.

“This might cause a ‘social crisis’ for retirees (who do not have enough savings).

“We abide by the government’s decision to let workers draw on their savings (with the i-Citra scheme) but we hope that they can come up with plans to increase our savings or replenish the money that was withdrawn over the next five years,” he said.

EPF chief executive officer Amir Hamzah Azizan was reported as saying that 6.49 million contributors who previously withdrew their savings through the i-Sinar scheme are those in the M40 and B40 groups.

He added the money was to supplement their earnings and to “allow them to ride out the pandemic”.

Prime Minister Muhyiddin Yassin said yesterday that 12.6 million EPF contributors are allowed to withdraw up to RM5,000 over a period of five months under i-Citra.

Kamarul said MTUC also agreed with the move to give automatic loan moratoriums for all those who are servicing their loans.

“We do hope that there will be no hidden charges imposed on the borrowers later. Banks cannot take advantage of them during this pandemic,” he added.

Meanwhile, he said the government should impose targeted movement control orders (MCOs).

“For states or districts that have fewer Covid-19 cases, there is a need to open the economy with strict SOPs in place.

“Workers are feeling the stress from the economic uncertainty,” Kamarul added.