Malaysians have been allowed to make withdrawals from their EPF accounts, which are meant for their retirement fund, to help alleviate the financial strain caused by the pandemic. But what of the long-term repercussions on their financial security in their golden years? In fact, EPF chief strategy officer said that only 3% of EPF contributors can afford retirement. We take a look at whether we’re doing enough to help prepare our ageing society to manage financial insecurity and the impact of financial insecurity on the mental health of older adults, together with gerontologist Lily Fu and consultant psychiatrist Dr Wan Izwin Wan Hassan.

Images credits: wwkwsp.gov.my and homage.com.my 

Produced by: Lim Sue Ann

Presented by: Tee Shiao Eek

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Categories:  Personal Finance,  Investments,  Financial Literacy,  Young Finance,  Politics,  Social Issues,  law & legal matters,  Medical Innovation and Technology

Tags:  The Bigger Picture,  Health and Living,  financial insecurity,  financial security,  income security,  EPF,  pension,  retirement,  seniors,  stress,  anxiety,  dementia,