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EPF concerned about retirees' spending

Dec 28, 2016

The EPF is concerned with the spending habits of contributors, many of whom run out of savings too soon after retirement.

It says many go thru their savings within three to five years after retiring, even though the life-span of Malaysians has increased to 75.

The fund says EPF contributors, especially those about to retire, need to manage their finances and make use of its Retirement Advisory Service, to ensure they're sufficiently covered in their old age.