EPF survey: 26.1% over 60 years old still work until they fall ill, says PM

KUALA LUMPUR: A survey by the Employees’ Provident Fund (EPF) of respondents over 60 years of age found that approximately 26.1% will work until their health does not permit or fall ill in them facing the challenge of guaranteeing income to fund their retirement needs.

According to Kosmo, the Prime Minister, Datuk Seri Anwar Ibrahim said, at the same time, EPF data also showed that one in four contributors ran out of savings within five years after withdrawal.

“The one-time giving of EPF benefits has resulted in many people not being able to maintain a reasonable standard during retirement or manage their longevity.

“In addition, the elderly are also more vulnerable to poverty than the average Malaysian population, where only 29% of Malaysians have a pension or pension-like income during retirement,” he said.

Anwar said this at the EPF 2024 International Social Welfare Conference here today.