Retirement planning is a crucial aspect of financial security, yet it’s a topic many young people often overlook.
In Malaysia, the Employees Provident Fund (EPF) is designed to ensure individuals build up savings throughout their working lives.
How some M’sians managed to save RM300K
However, recent statistics reveal a worrying trend: more than six million EPF members below the age of 55 have less than RM10,000 saved—far short of what’s needed for a comfortable retirement.
This raises questions about whether young Malaysians are truly prepared for their financial futures.
A TikTok video by Mr Money TV dives into this issue by interviewing several young adult of Chinese Malaysians at their workplace, revealing a different side to the narrative.
In the video, most interviewees disclosed that their EPF savings range from RM100,000 to RM300,000—amounts that surprised many viewers.
Only a small number of respondents reported lower savings, and one even showed a six-figure balance on the EPF app as proof.
The interviewees attributed their success to the mandatory EPF contributions, acknowledging that without this system, it would have been nearly impossible to build such substantial retirement funds.
The content creator behind the video expressed optimism, noting that more Malaysians are becoming aware of the importance of financial planning.
However, the reactions to the video were mixed. While some netizens were impressed by the financial discipline of these young individuals, others voiced their concerns.
Many explained that low wages make it challenging for them to accumulate similar savings, even after working for many years.
The video has sparked broader conversations on financial inequality in Malaysia, highlighting the varying realities faced by young people in their pursuit of financial security.
Watch the clip here:
