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Wednesday September 18, 2013 MYT 12:00:00 AM
Wednesday September 18, 2013 MYT 11:48:44 AM
KUALA LUMPUR: Surveys have found that most Malaysians do not give any thought to retirement even if they are retiring in five to 10 years.
One reason they do not engage in a retirement plan is due to the lack of financial literacy, Employees Provident Fund (EPF) chairman Tan Sri Samsudin Osman said.
“We hope this seminar will provide a platform for participants and employees to kick-start their roadmap in retirement planning,” he said at a “Towards Securing a Comfortable Retirement” seminar yesterday.
In his keynote address, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said that although the EPF gave an average dividend of 6.11% in the last five years, the average savings of an active EPF member at the age of 54 was just RM158,302, which might just last for 20 to 25 years. — Bernama
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