Experts urge employees to put thought into retirement savings scheme

Farizan urging EPF members to diversify their savings for retirement.

Do not rely solely on the Employees Provident Fund (EPF) for retirement, said EPF strategy planning head Farizan Kamaluddin, urging members to diversify their savings for their golden years.

“This is why we consider the Private Retirement Scheme (PRS) a complement to EPF and Malaysians should take advantage of the income tax relief given by the Government of RM3,000 a year if they apply for PRS,” she said during her talk on “EPF Scheme & Retirement Planning” at Menara Star in Petaling Jaya recently.