Under 40% of EPF members have enough savings for their age
Data from the Malaysian finance ministry shows that less than 40% of active EPF members have sufficient retirement savings for their age. The government is implementing new account structures and voluntary savings schemes to address this shortfall.
Why it matters
The findings underscore the challenges of an aging population and the necessity for structural reforms in national retirement savings systems.
Deputy finance minister Liew Chin Tong said the government and EPF are taking steps to help members build their retirement savings.
The article presents government statistics and policy responses without editorializing.
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