ACCORDING to statistics shared by the Employment Provident Fund (EPF), as of last year 68% of the 14.19 million active EPF contributors below the age of 54 have less than RM50,000 in their account.
The statistics further reveal that 70% would use up their EPF money in 10 years and 50% would exhaust their savings within five years if they don’t have any proper financial planning and investment options. This is a scary scenario especially when cost of living is on the rise and many might still have loans to pay off after they retire.
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