Surviving solely on your Employees Provident Fund (EPF) in Malaysia is possible, but it depends on several factors, including your savings, lifestyle, and retirement strategy. Let’s break it down with a case study. Case Study: Can a Malaysian Retire on EPF Alone? Assumptions: Scenario 1: Withdrawing EPF as a Lump Sum If you withdraw RM500,000 …
Starting on 15 March 2020, we can make pre-retirement withdrawal from private retirement scheme (PRS) for certain purposes without the 8% tax penalty. The allowed purposes are housing and healthcare. We could withdraw from Sub Account B which holds 30% of our savings. Healthcare For healthcare purpose, we can withdraw for ourselves or immediate family …
