Friday, July 18, 2008

Poverty After Retirement

According to an EPF survey - the average EPF contributor would have exhausted 70% of his retirement savings benefits from the fund in just 10 years. The recent survey on retirees found that at 65 years, many had exhausted all their funds and depend on their children for support for the rest of their remaining years.

If this is true, many Malaysians may face poverty in their old age. With the decline in the extended family support system and increasing life expectancy, concerns are being raised about the implications of old age security. Values are slowly eroding as some children choose not to take care of their parents although they can afford to do so!

Sad but true! Don't fret, there are still hope. Never too late. Let us start building our pipelines.

1 comment:

hoeyin said...

Bro, don't be so pessimistic la.

Lay back, look at the whole situation, have a good laugh at it and get on with life.

Anwar given chance on national TV to save us but only has his orator skill to show off and that also against a salivating baby.

Only way out is to hope Obama wins and do exactly the opposite of what Bushy has been doing all this while.

Cheers.