00:00Retirement can be difficult if the nest egg is not big enough.
00:04Financial planners said one must have at least 600,000 ringgit in the bank upon retirement.
00:11But for a more comfortable life, 1 million ringgit is the minimum.
00:15This is way above the threshold of 390,000 ringgit that Deputy Finance Minister Liu Chintong
00:21said is the minimum needed to survive retirement.
00:24But even at that low level, up to 4 in 10 Malaysians don't make the cut.
00:31Economist Go Lim Thay said higher incomes and increased productivity are essential to boost retirement savings.
00:38His counterpart, Firdausi Sufyan, attributed low wage growth to the structural problems in Malaysia's economy.
00:45He said the country should shift to higher value industries that will lead to better paying jobs.
00:51That will help wages to grow, thus enabling workers to set aside more money for their retirement funds.
00:58That, ultimately, is the least a retiree could expect.
01:02Adrienne Fernandez, FMT
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