Kuala Lumpur: . Nurhisham Hussein said the amount would be the “bare minimum” after accounting for inflation and medical expenses, among others, The Star reported today. He also said those planning to stop working in the near future would need at least RM600,000 in their savings to have a “dignified” retirement in Kuala Lumpur.“When you look at the RM600,000 savings threshold, only about 4 per cent of Malaysians could afford to retire.
Nurhisham told the newspaper that over half of EPF contributors, or 56 per cent, around 54-years-old currently have less than RM50,000 in their accounts. He said this amount could last them roughly four years at the current rate. Nurhisham also reportedly said that about 52 per cent of EPF’s contributors have less than RM10,000 in their accounts, while 27 per cent have less than RM1,000. “That’s rather worrying.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.