Statistics related to EPF have been eye-opening of late. As of end-September, 29% of EPF members have withdrawn RM11 billion from their flexible Acct 3 meant for emergencies. About a third of members under 55 have savings of less than RM10,000, meant to finance their post-retirement lives. Dr Hafezali Iqbal Hussain, a professor at the School of Management & Marketing Faculty of Business & Law at Taylor’s University breaks down the implications of these data.

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