A staggering 97% of Malaysians withdraw their entire EPF savings once they reach retirement age. The problem? Most retire with less than RM50,000, which at RM1,000 monthly spending lasts barely four years.
97% Malaysians Cashing Out EPF When Eligible
Financial planners warn retirees often burn through savings within three to five years due to unchanged spending habits and poor investment choices. With Malaysians now living to 76 on average, retirement funds must stretch for two decades.
Rising costs and EPF’s new flexible withdrawal rules add further risk. Experts suggest reforms like partial annuitisation and stronger financial education to prevent retirees from outliving their savings.
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