Call to enhance retirement savings

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PETALING JAYA: With the country’s economy entering into recovery mode, it is timely to put in place comprehensive social safety nets and measures to boost the retirement savings.

Economists when contacted by StarBiz generally opined that the government should seriously look into retirement security, especially after the Employees Provident Fund’s (EPF) retirement savings took a hit from the Covid-19 pandemic.The Covid-19 has disrupted businesses and livelihood, and those in dire need had been forced to withdraw from their EPF savings via the i-Sinar and i-Citra schemes, resulting in lower retirement savings.