http://www.themalaysianinsider.com/malaysia/article/epf-says-80-of-workers-have-savings-below-poverty-line-as-they-turn-55

Nearly 80% of workers who will turn 55 this year will not have enough savings in their Employees Provident Fund (EPF) to live above the poverty line, according to figures released by the fund's chief executive officer.

Datuk Shahril Ridza Ridzuan said for the next 20 years, the workers would not have enough in total EPF savings to enable them to live on RM800 a month, which is close to Malaysia's average poverty line income of RM830.

According to Shahril, more than 75% of its 14 million EPF contributors earn less than RM2,000 a month. About 15% earn between RM2,000 and RM5,000 a month, while those earning more than RM5,000 are in the top 10%.



TEH : With my salary around RM5k, I was the 15% ... above 75% contributors. That was last year when I was still working. So, I will be contributing EPF on my own soon.

If your salary is above RM5k, you are top-ten as EPF contributors. Well, the middle-class and lower-income group are MAIN EPF's contributors. So, I m moving OUT ... and no longer the 15% bracket there.

High-income people may not even bother to contribute to EPF as they are building biz and their investments could generate better income than the EPF's 6-7% rate? Yes, I want to move to high-income bracket and doing what they are doing. That CHANGE of mindset is needed if we are to have ''enough'' for retirement.

Seriously .. I could not blog at the moment. Mind is not in a piece ... heart not in peace.

So ... I think I should pause here.

Have a nice weekend.

TEH