EPF Chief: This is How We Solve Our Retirement Savings Problem

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EPF Chief: This is How We Solve Our Retirement Savings Problem

There's no two ways about it – Malaysia has a problem. And that problem is that most of us don’t have enough savings to last us after we retire.

Not too long ago, “retirement” was a good word. It was a positive word. It was the word everyone was looking forward to associate with their lives. A word that when spoken, has people hearing the words “freedom”, “accomplishment”, “liberation” --instead of the actual word. But today, the association is not quite that positive anymore. Not in Malaysia at least.  The EPF says a person must have RM228,000 of retirement savings by age 55. But as of 2015, two-thirds of EPF...

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