I have an unpopular opinion.
EPF is a forced ponzi scheme unto the working masses.

Your monthly contributions is enough to pay the small 5~6% yearly. Like the banks, if too many people withdraw, a situation similar to a bank run will happen.
The fund managers of EPF and KWAP at the top do the investing and does lots of shitty investments. Giving out RM 55billion in unsecured loans (https://www.malaysiakini.com/news/179848) to RM 4 billion giving to 1mdb and gone (http://www.astroawani.com/berita-malaysia/najib-setuju-src-pinjam-rm3-95b-duit-kwap-208809).
From bond scams and then to KWSP catching fire and coincidentally the documents were lost. (http://www.sarawakreport.org/2018/02/ten-billion-in-bonds-looted-from-epf-to-raise-four-billion-dollars-for-najib-explosive-exclusive-2/)
And the list just continues..

These are just assumptions as EPF do not show to the public their statement of where exactly each ringgit of the contributor's money is being invested yearly. Yearly financial reports are very brief and just highlights of which sector etc. Any Tom Dick and Harry can create those reports like in University coursework presentations. Lacks of information exactly where each ringgit go to, which company and how much etc.