KUALA LUMPUR: It is time for Malaysia to embrace serious reforms in its pension and retirement framework to ensure financial security and equity for all Malaysians, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said a recent survey found that 26.1% of respondents above the age of 60 will continue to work until their health fails...
PETALING JAYA: EPF members have been reminded to use their i-Akaun app to handle issues revolving around their Akaun Fleksibel, popularly known as Account 3, instead of lining up at their branches. The exception is for withdrawals of more than RM30,000 or those who have changed their banking details, EPF said. However, a quick check by The...
PETALING JAYA: Many workers in both the formal and informal sectors plan to contribute more to the Employees Provident Fund (EPF) to assure an easier retirement. Fund members taking part in the voluntary contribution programme said it is a prudent and stable way to save for the future, while also providing reasonable returns and peace of...
PETALING JAYA: Even a small voluntary contribution into the Employees Provident Fund (EPF) can snowball over time and workers in the informal sectors should not miss out, say financial experts. The power of “compound interest”, they pointed out, would increase even with the minimum RM10 contribution to EPF. ALSO READ: EPF continues to be flexible for long-term gains When...
PETALING JAYA: From choosing to continue working to diversifying investments, senior Malaysians are finding ways to continue generating income despite approaching or having entered their golden years. A 52-year-old who wanted to be known only as Chan said he would continue to do freelancing support roles for IT-related services despite closing in on retirement. “I do have...
PETALING JAYA: The numbers paint a worrying picture – nearly 40% Malaysians do not have a retirement plan, which has experts calling for government intervention to forestall a crisis. In the Malaysia Ageing and Retirement Survey (MARS) Wave 2, some 37% of the 4,821 respondents said they had not given much thought towards retirement while 23%...
