Only 4,877 EPF members aged 54 have savings of more than RM1 million.
According to information issued by Deputy Minister of Finance Sim Zhiqiang, as of January 1, 2023, there were 274,715 Employees Provident Fund Board (KWSP) members aged 54 years old, of which only 4,877 had deposits of more than RM1 million.
The 54-year-old members with deposits of less than RM10,000 account for the highest proportion, which is 35% or 94,827 people. 8% of 54-year-old members have RM11,000 to RM20,000, and 13% of 54-year-old members have RM21,000 to RM50,000.
Deposit range for provident fund members aged 54 (as of January 1, 2023)
Less than RM10,000: 35%
RM11,000 to RM20,000: 8%
RM21,000 to RM50,000: 13%
RM51,000 to RM100,000: 12%
RM100,010 to RM200,000: 13%
RM201,000 to RM500,000: 13%
RM500,100 to RM1 million: 4%
Over RM1 million: 2%
