4-3-2024 (KUALA LUMPUR) A significant number of Malaysians are facing a precarious financial future in retirement, as revealed by the Employee Provident Fund (EPF). The Chief Executive Officer, Ahmad Zulqarnain Onn, disclosed that a mere 33% of active EPF members have managed to accumulate a basic savings amounting to RM240,000 as of the past year.
This statistic pertains to 2.4 million members falling between the ages of 18 and 55 in the formal sector. While this marks an improvement from the figures in 2021 (31%) and 2022 (30%), influenced by withdrawal facilities enacted amid Covid-19 lockdowns, it remains a decline from the more promising 37% reported in 2020.
