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29-10-2023, 08:20 AM
Derrick A Paulo
Zainudin Afandi
29 Oct 2023 06:00AM
(Updated: 29 Oct 2023 07:23AM)
......
Between 2020 and last year, through four rounds of COVID-19 withdrawals, 8.1 million Malaysians took RM145 billion out of the pension fund.
As early as February 2021, the EPF reported that about 30 per cent of members had emptied almost all their retirement savings in Account 1, which ordinarily cannot be withdrawn before age 55.
By the end of last year, 51.5 per cent of members under the age of 55 — nearly 6.7 million people — had less than RM10,000 in their accounts.
Based on the EPF’s calculations last year, only about 4 per cent of Malaysians could afford to retire.
A lot more in full article at: https://www.channelnewsasia.com/cna-insi...ic-3877331
Zainudin Afandi
29 Oct 2023 06:00AM
(Updated: 29 Oct 2023 07:23AM)
......
Between 2020 and last year, through four rounds of COVID-19 withdrawals, 8.1 million Malaysians took RM145 billion out of the pension fund.
As early as February 2021, the EPF reported that about 30 per cent of members had emptied almost all their retirement savings in Account 1, which ordinarily cannot be withdrawn before age 55.
By the end of last year, 51.5 per cent of members under the age of 55 — nearly 6.7 million people — had less than RM10,000 in their accounts.
Based on the EPF’s calculations last year, only about 4 per cent of Malaysians could afford to retire.
A lot more in full article at: https://www.channelnewsasia.com/cna-insi...ic-3877331
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