According to the Ringgit Plus Financial Literacy Report 2020, Malaysians’ personal financial habits are not getting better compared to the previous years.
The lack of retirement planning and savings of Malaysians in their Employee's Provident Fund (EPF) remains a concern. Moreover, the Covid-19 showed the importance of having savings for emergency situations, as the pandemic resulted in a significant drop of the members’ percentage for meeting the basic savings threshold.
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