Article Related To retirement-savings

Anwar said the people had already been allowed to make several EPF withdrawals before, which caused their retirement amount to decline.

Additional withdrawals will lead to continuous decline in EPF members' retirement savings and currently almost half of the members had less than RM10,000 in their accounts.

The current shortfall in retirement savings among Malaysians requires serious and urgent attention, Securities Commission warns.

Abdul Rasheed said that in terms of retirement savings, however, the buffer needed to be strengthened and rebuilt.

Muhyiddin acknowledged the need to balance short-term needs of individuals affected with the long-term future and retirement savings needs.

Retirement savings is a longer-term safety net that should not be eroded due to what could be a temporary problem, albeit a serious one.

Most of us don't have enough savings to last us after we retire. We have to do something, and we have to do it fast. And the man in charge of our retirement savings has a plan.

He said it was worrying when a report highlighted that about 68 per cent of Employees Provident Fund (EPF) members had savings of less than RM50,000.

Those wanting to maintain a comfortable life during old age will certainly have made the necessary financial planning for their retirement years, but with inflation and rising cost of living, they rem

Johor EPF branch Retirement Advisory Service (RAS) officer, Faizal Abu Al-Ashari said those below 55 years-old can register as EPF members to make savings until they reach retirement age.

Financial planning for retirement should begin at early stage when a person starts working.

Financial planning for retirement is crucial to ensure a comfortable lifestyle.

The new minimum wage would be implemented in all sectors except for domestic services and maids.

Citibank (M) Bhd become the first foreign bank to offer private retirement savings in Malaysia, via partnering CIMB-Principal Asset Management Bhd as the distributor.

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