67% of EPF members not ready for old age

PETALING JAYA: Malaysia is heading towards an aged nation by 2030 but as many as 4.46 million or 67% of Employees Provident Fund’s active contributors have not achieved the basic saving requirements.

Deputy Finance Minister Datuk Chua Tee Yong said an EPF member needed to have at least a minimum savings of RM820 per month for 20 years, which would come up to RM196,800 in his or her old age.