RM600,000 doesn’t cut it for retirement, say economists

Desmond Davidson

Malaysian Human Rights Commissioner Madeline Berma says one probably needs about RM500,000 in retirement savings to live comfortably in a rural or interior area. – The Malaysian Insight file pic, January 30, 2023.

ECONOMISTS have dismissed a recent Employees’ Provident Fund (EPF) assessment that pensioners need between RM500,000 and RM600,000 in the bank to live comfortably after retirement.

They said the amount is clearly insufficient to live comfortably, especially in urban areas.

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