KUALA LUMPUR, April 17 -- The soon-to-be-introduced Employees' Provident Fund (EPF) Account 3 structure policy is a step backward for social protection in the country, Social Protection Contributors Advisory Association Malaysia (SPCAAM) has said.

Its international labour adviser Callistus Antony D'Angelus said the move to allow Account 3 which funds can be withdrawn at any time is a reflection of the unity government falling short of reform which benefits the public.

"This is no different from the irresponsible actions of a previous administration that allowed for EPF withdrawals during the Covid-19 pandemic to alleviate the cost of living crisis at that point in time.

"The action of the EPF here is not only irresponsible towards cont...