Retirement statistics

Some retirement statistics that are relevant in preparation for private pension in Malaysia:

• 12 mil labour force
• 35-40% not covered by retirement schemes
• 2 mil self-employed
• 12 mil EPF members, 5.7 mil active
• 90% of EPF contributors have less than RM100,000 in their accounts
• 70% of EPF members exhausted their EPF savings within 3 years
• Potentially RM60 bil can be channeled into private pension fund

Interestingly, some statistics from Australia for comparisons:

• The average superannuation account balance at retirement:
• Women: A$73,000
• Men: A$155,000

Source: The Edge Weekly (7/9/2009), The West Australian (7/9/2009), both not available online