Planning for retirement can be daunting, especially when estimating monthly expenses. The Employees Provident Fund (EPF) simplifies this with the latest Belanjawanku guide for 2024/2025.
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New Belanjawanku Guide Sets RM2,690 Monthly for Elderly
The guide suggests a single elderly person in Malaysia needs RM2,690 monthly for a comfortable retirement. Developed by EPF and the Social Wellbeing Research Centre, it provides a detailed breakdown of essential monthly expenses and is updated annually.
It is crucial for personal budgeting and informs the EPF’s retirement savings framework, ensuring savings meet rising costs. Starting in 2029, savings levels will be reviewed every three years.
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