Forty out of 100 Malaysians do not have any retirement coverage, said EPF chief executive officer Ahmad Zulqarnain Onn.
According to New Straits Times, Ahmad Zulqarnain said in Malaysia, out of every 100 people, 60 were covered by a formal retirement scheme.
EPF CEO: 40% of Malaysians Lack Retirement Coverage
“Of these, around 50 are under the EPF, and about 10 are covered by the civil service pension scheme,” he was reported as saying.
He added that the remaining figure was not covered by retirement schemes as they generally work in the informal sectors, or are migrant workers or work on something called contract for service, as opposed to contract off service.
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