Why I would reject the EPF withdrawal age change

From the Star:

The Prime Minister Datuk Seri Najib Tun Razak made an announcement that had many Malaysians let out a sigh of relief. The hotly debated Employees Provident Fund’s (EPF) proposal of raising the full withdrawal age from 55 to 60, had many Malaysians worried.

Some are for the new proposal, as they may plan to continue working after 55 and don’t mind having their EPF savings compounded further at a guaranteed return. However, most are dead set against the proposal.

The article goes on to list many reasons why people want to withdraw their money out of the EPF at 55 as opposed to 60.

For me, it's not for any of the reasons listed in the article.  I would withdraw my money at the earliest time possible for multiple reasons.  The first being to diversify.  Even though the EPF has trustees with its money that look after the best interests of savers, it wouldn't be beyond me that nonsense could be happening at the EPF.  Better safe than sorry in my opinion.

Nothing really against them, but I learned long ago not to keep all my eggs in the same basket.

The second, is as mostly everything the government touches has turned to toxic waste, I'd sleep better at night to put my money with more capable people.

Just my two cents.