KUALA LUMPUR: Any new additional pre-retirement withdrawals, whether targeted or open, will further exacerbate the issue of insufficient retirement savings, which is currently at a very alarming level, the Finance Ministry said. The ministry said it is also not a solution to the increasing financial burden of the people. "As of Sept 30, 2023, a total of...
KUALA LUMPUR: The government has agreed to study the proposal for a phased expansion of social protection coverage to the working-age population of Malaysia reaching 18 years old to ensure old age income security from 2024 onwards. Prime Minister Datuk Seri Anwar Ibrahim said that this decision was made during the 6th Meeting of the Malaysian...
PETALING JAYA: The financial wellbeing of Malaysia's ageing population has been given attention in Budget 2024. Employees Provident Fund (EPF) chief executive officer Datuk Seri Amir Hamzah Azizan said the Budget announced by Prime Minister Datuk Seri Anwar Ibrahim on Friday (Oct 13) addressed some concerns EPF raised on the long-term financial wellbeing of Malaysians. "The Budget...
PETALING JAYA: Are there any 100-year-old contributors of the Employees Provident Fund (EPF) out there? The answer is yes! The EPF recently posted a general notice including in The Star classified ads seeking to contact people who are 100 years old and above who have not claimed their EPF savings. The fund said members and their beneficiaries...
