Sound advice: AKPK’s Desmond Chong (right) explaining to a participant the importance of saving for retirement and emergencies, at the EPF Retirement Ready Save Go workshop held at Manipal International University in Nilai, Negri Sembilan.
EIGHT in 10 Employees Provident Fund (EPF) contributors aged 54 years have insufficient savings to sustain them in their retired years, said the social security organisation.
EPF strategic management manager Jamaliah Awang said based on 2014 figures, only 22% or about 17,000 active contributors aged 54 years have achieved the basic amount of RM196,800 for their retirement years.
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