KUALA LUMPUR (April 12): The Employees Provident Fund (EPF) has refuted speculations of a cash crunch crisis building up in the retirement funds, as well as the amendment of the EPF Act 1991 to prevent retirees from withdrawing their savings. In a statement, the retirement savings fund said it has always maintained sufficient liquidity to meet all of its obligations. It said the sale and purchase of overseas assets are a normal part of the EPF's investment operations as one of its asset allocation strategies, stressing that the move was not for the payment of premature withdrawals.

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