Are my retirement savings enough?

One of the biggest concerns of retirees is having enough to cover medical emergencies. Many may not realise that this includes covering not only our own medical and healthcare expenses but also those of our elderly parents. Photo: Pexels

A 6.3% dividend for our EPF savings? It was definitely welcome news for every active contributor regardless of age. That’s the highest rate since 6.4% in 2017 and a significant jump from 5.4% last year.

But hold your horses before you start celebrating. The rise in price of essential goods and services, and the impending higher costs of medicine and hospital charges would likely even out any real gains in our retirement savings.