KUALA LUMPUR, Jan 10 (Bernama) — The Malaysian Financial Planning Council (MFPC) expresses support for the government’s decision against further EPF withdrawal schemes. While we empathise with the rakyat’s struggles during the present times, further withdrawals from their retirement nest egg may cause bigger problems in the future, particularly after retirement.
Saving for retirement is essential. When you save for retirement, you are saving for your future. When you neglect to do so, you run the risk of not being able to take care of yourself when you are older and possibly in ill-health. Your retirement goals should come before saving for your children’s education or going on vacation. Having a retirement fund is crucial for our and our families’ financial and emotional wellbeing. This underscores the importance of having adequate savings and income for future security as well as to withstand any future financial shocks.
