Retirement: It's an 'Income Problem,' Not an EPF Problem.

Proposals to restructure the EPF aim to solve Malaysia's retirement crisis by creating a pension-like income stream for retirees. But what if the problem isn't the EPF system itself, but a much deeper issue with our income and corresponding quality of education?

Rajen Devadason, Licensed Financial Planner with Manulife Investment Management (Malaysia) Berhad, joins us with a contrarian take, arguing that Malaysia has a fundamental "income problem" rooted in long-term educational policy missteps. He discusses his bold proposals for reform, including the controversial but necessary step of raising the retirement age to combat longevity risk.

We discuss:

• Why the core issue is an "income problem," not an EPF problem.

• The case for raising Malaysia's retirement age to 70.

• How long-term educational policy has impacted national income levels.

• What "longevity risk" is and why it's the biggest threat to retirement.

• Why individuals must focus on building their own private pensions.

  For policymakers and anyone planning for the future, this is a conversation that dives into perspectives on deep, structural reforms needed to secure Malaysia's long-term economic well-being.