2021 Budget Highly Beneficial to Citizens 

The 2021 Budget tabled by Finance Minister, Tengku Dato’ Seri Zafrul Tengku Abdul Aziz at Dewan Rakyat yesterday, received a warm welcome from Perak Menteri Besar, Dato’ Seri Ahmad Faizal Azumu.

He said that the budget was one of the best budgets tabled by the federal government.

“This proved that the government really took citizens’ voice into account and they will be receiving the benefits as expected,” he said via a media statement released in WhatsApp today (November 7).

“It’s time for the federal government to carry the essence of the budget into realisation.

“Equally crucial is ensuring that aids reach the targeted categories of individuals,” Faizal expressed.

Some of the proposals for the 2021 Budget are as below:

  • Monthly withdrawal of RM500 from Employees’ Provident Fund (EPF) contributors’ Account I for 12 months, up to RM6,000, starting January 2021 
  • Reduction of minimum EPF contribution from 11 percent to nine percent, also starting January 2021
  • Withdrawal from EPF Account II to purchase insurance protection products due to low insurance penetration rate in Malaysia
  • Extension of Private Retirement Scheme (PRS) tax relief, RM3,000 annually, until 2025

For more information regarding 2021 Budget proposals, go to The Star.


Chris Teh

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