Thursday, August 21, 2008

Is RM120,000 Enough For Life After Retirement?

Deputy Finance Minister Datuk Seri Ahmad Husni Hanadzlah said RM120,000 is enough for life after retirement. In The Star Online, 22 July 2008, he said that with about RM120,000 in a worker's Employee Provident Fund (EPF) account by the time the person retires or reaches the age of 55, he or she will have about RM500 to spend each month.

Maybe he feels that we are still in the 1960's. Or maybe our country is located somewhere in Central Africa. Or maybe he feels that RM500 is equivalent to 500 Euro. And the petrol price is dropping significantly!

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