Finance Ministry reveals just over one-third of EPF members have basic savings of RM240,000 to retire on as of Oct 2024
The ministry said that this figure represents an increase from 2.21 million or 30.4 per cent of the 7.25 million active formal members as of December 2022. “Additionally, inconsistent contributions, and the low level of financial literacy among Malaysians result in a lack of awareness on the importance of financial and retirement planning, which contributes to the insufficient savings,” the MoF said in a written reply on the Parliament website today.
According to the ministry, the basic savings refer to the amount in the Retirement Account set by EPF to ensure that members have at least RM240,000 in savings by the age of 55.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Covid-19, competition and cash flow woes: Finance Ministry outlines FashionValet’s collapse to ParliamentKUALA LUMPUR, Nov 14 — The Ministry of Finance has identified three factors that are said to have contributed to the collapse of online fashion business FashionValet, resulting...
Bron: malaymail - 🏆 1. / 86 Lees verder »
Finance Ministry Rejects Diesel Subsidy Cuts as Main Cause of Manufacturing Sector Cost IncreaseThe Ministry of Finance (MoF) has clarified that the planned reduction in diesel subsidies from June 2024 is not the primary factor behind the increased costs of goods in the manufacturing sector. This clarification follows the slight decline in the Purchasing Managers' Index (PMI) from 49.9 points in June to 49.7 points in July 2024. The MoF attributes the decrease to various economic risks, including lower external demand, decreased purchasing and inventory activities, and disruptions in supply chains.
Bron: theSundaily - 🏆 25. / 51 Lees verder »
Finance Ministry Outlines 3 Reasons Why FashionValet FailedThe story of the fall of FashionValet is still the talk of town.
Bron: therakyatpost - 🏆 14. / 59 Lees verder »
Final 2024 STR payout starts Nov 7, says Finance MinistryLONDON (Reuters) - Former Manchester City defender Benjamin Mendy on Wednesday won a partial victory in his case against the Premier League club for over 11 million pounds ($14.3 million) in unpaid wages, after he was charged with and acquitted of sexual offences.
Bron: staronline - 🏆 4. / 75 Lees verder »
EPF records 20% increase in total investment incomeNEW YORK (Reuters) - Investors are piling into bullish options bets on Tesla shares, with the stock hitting its highest level in more than two years on bets that CEO Elon Musk’s close ties to President-elect Donald Trump may benefit the electric car maker.
Bron: staronline - 🏆 4. / 75 Lees verder »