Retirees need RM2,690 a month for reasonable standard of living

KUALA LUMPUR: According to the Employees Provident Fund's (EPF) latest guide on monthly expenditure for retirees, a single elderly person needs RM2,690 a month to maintain a reasonable standard of living in retirement.

The pension fund today launched Belanjawanku 2024/2025, which is a guide developed by the EPF and the Social Wellbeing Research Centre (SWRC) at the University of Malaya to estimate the minimum monthly expenses needed for a decent living standard.

Initially focused on the Klang Valley, the guide now covers 11 other major cities in Malaysia and is updated yearly to reflect current living costs.

According to the EPF, it serves as a practical tool for households and a valuable reference for policymakers.

Meanwhile, the EPF has also rolled out the Retirement Income Adequacy (RIA) Framework, which revises the recommended savings level from a single benchmark to three tiers, comprising "basic", "adequate" and "enhanced" levels of savings.

According to the EPF, the RIA Framework, which is set to be implemented in January 2026, allows members to set savings targets that reflect different retirement lifestyles and aspirations.

"This approach emphasises the importance of viewing EPF savings as a source of ongoing income, helping members to understand savings they will need to sustain themselves during retirement," said the pension fund.

Due to the rising cost of living, the RIA Framework will be reviewed every three years starting from 2029, using updated data from the Belanjawanku findings.

The revisions to the Belanjawanku savings benchmarks will have implications for the withdrawal threshold for EPF members, as well as the amount of savings members can transfer from their Akaun Persaraan to approved funds.

RM2700 per month
RM2700 x 12 months = RM32400
RM32400 x 20 years = RM648000

Provided you are healthy and don't have medical expenses.

End of the day, if you don't have enough money to retire then you have to steal food from shops and end up in prison. At least you got shelter and food in prison.

RM2700 per month
RM2700 x 12 months = RM32400
RM32400 x 20 years = RM648000

Provided you are healthy and don't have medical expenses.

End of the day, if you don't have enough money to retire then you have to steal food from shops and end up in prison. At least you got shelter and food in prison.

when i old

i'm seriously thinking of taking year long trip on a cruise ship

lodging with free food and entertainment

later if dead the captain have permission to just tossed me overboard

On one hand, 1.5K minimum wage is too high.

But on the other, retirees need min 2.7K to live.

Interesting numbers.

by the time you retire

cars should have been fully paid
house also paid

so u just live using petrol, food, and health

shopping sikit2 cukup la

by the time you retire

cars should have been fully paid
house also paid

so u just live using petrol, food, and health

shopping sikit2 cukup la

But but. How to drive same car for 20 years?

by the time you retire

cars should have been fully paid
house also paid

so u just live using petrol, food, and health

shopping sikit2 cukup la

Should should should... Wat if wat if wat if...

Another topic to cover is healthy retirement... Retirement age and healthy retirement very different... If too big discrepancies may run out of money 💰, or leave too much to next of kin /our pets or maids ( v work so long so hard to benefit everyone else is like bodo isn't it...?) 

But but. How to drive same car for 20 years?

so u just live using petrol, food, and health

Every month need scaling, medical clinic, and eye glass repair RM950??? better go die la if already reach this stage. Buy some charcoal burn in your room. much cheaper.

Also RM500 shampoo per month?!?!?! hahahahha

sohai u mistaken per year as per month or what????? HAHHAHAHA bodo. this pattern still can make more than rm2700 income per month. Malaysia small pond so easy level make money here. IQ average also can become jaguh kampung i tell u.

But but. How to drive same car for 20 years?

if fd 4%, then need 800k to generate that....
not that difficult la /k all 20k salary

when i old

i'm seriously thinking of taking year long trip on a cruise ship

lodging with free food and entertainment

later if dead the captain have permission to just tossed me overboard

Maybank fd only 2.6

i'm still using my car of 15 years old... nay, next year will be 16 years old. no issue... its a old honda accord.

20 years should be fine, especially if it is one of those car used for same town/city drive... for market... for close distance... by careful middle aged men/old ladies...hehe

Sunshape come explain how much fun is to drive old honda okod.

why asked me?

I drive a very old and unsightly car, and the police always stop me to check on me and the car.

Some even purposely U-turn from the other side of the road and stopped me to check.

Just now I was driving in the highway and the patrol car also stopped me when they passby.

Although I did nothing wrong, the feeling was very bad and sad.

Looking to buy a second hand car which tahan lasak for rough use.

Sunshape come explain how much fun is to drive old honda okod.

why asked me?

RM2700 per month
RM2700 x 12 months = RM32400
RM32400 x 20 years = RM648000

Provided you are healthy and don't have medical expenses.

End of the day, if you don't have enough money to retire then you have to steal food from shops and end up in prison. At least you got shelter and food in prison.

if fd 4%, then need 800k to generate that....
not that difficult la /k all 20k salary

You need 650k @5.5% in kwsp.

With 2.5% inflation, it can last you for 30yrs after retirement.

for a final sendoff, toss at front of ship.

then how is a single worker earning rm 1500 per month going to survive???