Most Malaysians do not have adequate savings for retirement; women are especially at risk
Malaysians are living longer with an average expected life expectancy of 74.7 years, and women is expected to live 4.6 years longer than men. (In 2016, women are expected to have an average life expectancy of 77.2 years while men are expected to have an average life expectancy of about 72.6 years). As the life expectancy among Malaysians increases, so does the need for more savings to sustain a longer life span, especially after retirement. (Recommended minimum target of EPF savings by the age of 55 is RM 228,000).