Do We Have Enough Money To Retire?
Professor Dr Hafezali Iqbal Hussain, Head of Research at the Faculty of Business and Law, Taylor’s University and Member of the Centre for Industrial Revolution and Innovation (CIR4I) | Idham Idris, Director and Licensed Financial Planner, Wealth Vantage Advisory
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Human Resources Minister Datuk Seri M Saravanan has said that the government is studying whether to transform Socso into a pension scheme. And secondly - EPF pointed out that to retire in KL in 20 to 30 years, we may need to have about 1 million ringgit saved up. So first, we’re talking about the SOCSO pension plan and how it could work. And then, how can we save enough for retirement, considering stagnating wages and high cost of living?
Image source: Faiz Zaki, Shutterstock
Produced by: Alia Zefri, Kelly Anissa
Presented by: Lee Chwi Lynn
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Categories: government, financial wellness, young finance, Family/Parenting, economy
Tags: socso, retirement, finance, epf,