A pertinent question that we should all ask ourselves and our spouse.
My camera died on me yesterday while I was recording the seminar on "Retire Happy" jointly organized by Employees Provident Fund (EPF) and Financial Planning Association of Malaysia (FPAM). Since EPF is on a nationwide roadshow to raise public awareness of retirement planning, I shall share the first talk on "EPF - Towards a Sustainable Retirement" given by Mr Vijaya Kumar, EPF General Manager, Strategic Operations Department. Here are some of his slides. 
Did you know our EPF is the 18th largest pension fund in the world and also the world's oldest? It was established in Oct 1951. Our retirement age of 55 for the private sector is among the lowest. For civil servants, it has been raised to 58.
Some interesting numbers here.
The majority of contributors prefer to withdraw their savings in one lump sum upon reaching retirement at 55. Unfortunately, as the percentages above show, they will have depleted their savings when they reach 65. How will they live for the next 10-20 years?
Many pension funds in developed countries like France, Germany and the US, are facing problems in meeting retirement payments. According to the figures above, EPF is in robust financial health.
Some of the recent changes introduced by EPF.
12 tips to ensure you have enough saved for your retirement. The earlier you start, the larger your nest egg when you retire. Good advice for our adult children. Perhaps a little late for seniors who have yet to plan for their retirement.
To retire comfortably till 75+, we must have at least RM1m in savings. Also allow for inflation of 5%.
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