More than 50% have less than RM 50k in their EPF

Your EPF savings alone may not be enough to support your golden
years. Insufficient retirement savings can be due to several reasons,
among them longer lifespan, low salary and early retirement. More often
than not, the money will be exhausted in a short period of time.
Since the establishment of the EPF on the 1st of October 1951, the full
withdrawal age has remained at age 55, while the life expectancy of
Malaysians has increased to age 75. This means that your EPF savings
needs to last for 20 years after you retire.

1. The 2013 EPF statistics for members aged 54 revealed that:-
• 69% of members have less than RM50,000 in their account;
• 54% of members have less than RM20,000 in their account; and
• Only 31% of members still work at age 54.

This amount of savings is not sufficient to support you for 20 years after
your retirement.