Malaysia is for all Malaysians, not just Malays, says PM Anwar in retort to Mahathir

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Fighting for Malay supremacy doesn’t tackle real Malay problems

At a recent forum on the lack of old-age security in Malaysia, a representative of the Employees Provident Fund did not mince words when she said the future for many private sector retirees looked bleak, based on the savings they held with the fund.

She said she felt like weeping when looking at the figures, fearing a serious crisis ahead with Malaysia’s population ageing at a rate outpacing retirement savings.

The figures showed the group most affected by a lack of savings was the low-earning Bumiputera community.

Bumiputeras aged 55 and below comprise 65% of the EPF’s 15.8 million members. But they contributed just 40% of the RM930 billion in total savings that the fund held in this category prior to the Covid-19 pandemic.

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