EPF Scheme

It is a surprise that government actually change the regulation to allow workers to withdraw their EPF for home loan repayment. For those who buying houses and properties, they should have sufficient funds for such buyings, not rely on their EPF for the repayment. EPF suppose to serve as retirement fund for those retirees, who might need it when they are no longer working and that the money is suffice to survive today's and future's high living costs.

Wha if one buying a house / property, using the EPF to repay the instalment, then sell it before they complete the repayment, then they would get the cash from the sales of the property. At end of the day, the EPF account will left with little money, which has great possibility of insufficient when they retired.

So personally I think this is a very bad idea, and it will cause some people into financial difficulties in due time. For me I will not buy a property if I have not enough fund. In another view, EPF money belongs to the person, and they of course have the rights to used it the way they wanted, so it's a two way traffic. Government can only do up to certain extend and the rest depends on the person him/herself