‘Malaysians not saving enough for retirement’

Another fiscal year: (From left) Tunku Alizakri Raja Muhammed Alias, Datuk Shahril Ridza Ridzuan, Datuk Mohamad Nasir Latif and Mohd Naim at the launch of EPF’s annual report in Kuala Lumpur.

KUALA LUMPUR: One in three Malaysians does not have a savings account, and most have not saved enough to last them more than five years after leaving the working world, according to the Employees Provident Fund (EPF).

“Ninety percent of rural households have zero savings, while in urban households, 86% do not have savings.