KUALA LUMPUR, July 23- The Employees Provident Fund (EPF) today launched an advertising campaign to urge its members to capitalise on the Flexible Age 55 Withdrawal, as part of its continuous efforts to raise members’ awareness on retirement planning.
Under the Flexible Age 55 Withdrawal, members can opt to withdraw their savings partially, monthly or a combination of both.
The advertising campaign themed ‘Stretching Your Savings for Your Golden Years’, would be aired on radio, published in newspapers and carried on the EPF Facebook page from today until August 2.
EPF General Manager for Public Relations Nik Affendi Jaafar said the EPF strongly recommended its members to manage their savings through the flexible options given the average life expectancy of Malaysians have increased to 75 years.
“The flexible withdrawal allows members to stretch their savings over a longer period during their golden years.
“Furthermore, savings kept in the EPF will continue to earn dividends, hence increasing the members’ retirement funds. The compounding effect from stretched savings will go a long way for retirement,” he said in a statement.
He also encouraged members to start early with the financial planning for their retirement and not to depend solely on their EPF savings which could be insufficient.
Members must plan to save through other investment avenues available in the market that suit their risk appetite as part of their retirement planning, Nik Affendi added.
– BERNAMA
