Sunday May 27, 2007
Most Malaysians do not have financial security
ONLY 5% of Malaysians are prepared for retirement. Despite a growing awareness for the need to prepare for one’s retirement, many do not translate their plans into action.
Those in their 20s think they are too young to think about retirement, while those in their 30s and 40s tend to believe they are doing enough because they have their EPF savings. By the time they are 55, it is just too late.
The sad truth is that at 55, most people cannot retire with financial security.
Based on EPF’s 2005 annual report, about 90% of EPF contributors have less than RM100,000 in their accounts – not enough to see them through 20 years past retirement.
Related Stories:
Counting on the nest egg
Phased EPF withdrawals a better option
News Poll
- Teacher held for oral sex on Year Two girl
- Lau sought psychiatrist’s help after death of fan’s dad
- Police shoot dead leader of ‘Berong Gang’
- Australian court sentences Malaysian who posed as taxi driver
- Teoh Beng Hock exhumed for second autopsy (Update)
- Foreign woman falls to death at high-end condo
- Prime Minister comes up with plan to end crisis in MCA
- 15-year-old held for trying to kill mum with acid-laced sarong
- Indonesia seizes 75tons of explosive material from M’sia
- Fresh polls in six to eight months if new mechanism used
- Australian court sentences Malaysian who posed as taxi driver
- Teacher held for oral sex on Year Two girl
- 10 states see increase in number of dengue cases
- AirAsia launches new flights to three Indian cities
- Teoh Beng Hock exhumed for second autopsy (Update)
- Lau sought psychiatrist’s help after death of fan’s dad
- Prime Minister comes up with plan to end crisis in MCA
- Take care of yourself first
- Police shoot dead leader of ‘Berong Gang’
- Our diversity is a blessing, says PM
RSS
