Having insufficient savings is a big worry but taking monies out prematurely will only compound matters of the inescapable aging society Malaysia will have to face in the decades ahead.
In October 2021, the country’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin pointed out that Malaysia is forecast to shift to an ageing nation earlier than previously projected, with the elderly population aged 60 years and above expected to reach 15.3% by 2030.
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