Planning for healthcare costs in retirement

The Employees Provident Fund is the main source of savings for nearly all Malaysians in the private sector.

KC Lee, who is in his 60s, lives about as healthily as a person his age can. He doesn’t drink or smoke or indulge in bad habits like gambling. 

Although he retired 10 years ago, he continues to work part-time to keep his mind agile. He also hopes that the income received will help stretch his retirement nest egg a little longer and supplement his twice-a-year travel plans. To keep healthy, Lee plays badminton once a week with friends, something he’s done for the last 30 years. His wife, a housewife, takes care of his diet and checks his blood pressure at least once weekly.