MALAYSIANS may soon have two initiatives that will heighten their opportunities to make and save more money for retirement and old age the new minimum retirement age for private sector employees at 60 years old and a Private Retirement Scheme (PRS) is expected in the fourth quarter of 2012.
It is clear that the new retirement age will provide opportunities to increase retirement savings for those who are saving regularly. But for others who are not saving to build a retirement nest egg, it will likely still be a challenge to achieve financial adequacy for old age even if he or she waits until 60 to retire.
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