1.75% chance our EPF will last till the day we die
According to Bank Negara Malaysia, we will need more than RM1 million in EPF savings if we retire at the age of 56 and live beyond the age of 66. And this would only be so if the retiree lives modestly and does not go for overseas trips or takes too many holidays.
Bank Negara further says that most Malaysians finish all their EPF savings after just three years and thereafter they are broke. Not many Malaysians retire with more than RM1 million in EPF savings and the majority would have to survive with a fraction of that amount.
This means the majority of Malaysians will either have to die before the age of 60 or else live beyond 60 broke to their bones.