RETIREMENT
If you are approaching retirement, financial planning is crucial to ensure life after retirement continues smoothly without worry. General steps to calculate post-retirement living costs: Identify major monthly expenses Estimate total needed per year Consider inflation rate Average inflation in Malaysia is around 2–3% annually Estimate retirement lifespan Malaysians’ life expectancy is increasing due to improved healthcare; estimating 20–25 years post-retirement is reasonable Factor in other sources of income after retirement As additional financial support to your retirement fund Example: property investment, personal savings You may also use available retirement calculators, such as: For public sector retirees Pension and gratuity estimates For private sector retirees Retirement Goal Setting Calculator via EPF i-Akaun
As a future retiree, you are encouraged to prepare yourself with guidance related to finances, lifestyle and other retirement information. Public Service Pre-Retirement Preparation Program Target: Public servants who will retire within 1–3 years Program focus: Understanding retirement psychology Learning about retirement benefits Understanding derivative and medical benefits Managing gratuity payments Managing pensions and avoiding financial scams Usually organized by respective Departments/Agencies Advisory Services by EPF Future retirees can also receive free, face-to-face advisory services from EPF on: Retirement planning Financial planning EPF products and services
Transition Training (Latihan Peralihan, LP) is a special program provided by the Government to the Malaysian Armed Forces personnel who are ending their service, to prepare them for post-service life. Training focus: Technical, vocational, and entrepreneurial skills across 3 phases: Pre-transition training Transition training Post-transition training Target: Armed forces personnel ending service and armed forces veterans (Post-Transition Phase) Skills focus: Technical, vocational, and generic skills Training categories: Training at PERHEBAT Technical and vocational training Agriculture and livestock training On-the-job training Management training Private training Duration: Between 3 to 18 months, depending on eligibility and program modules Certification: SKM Certificate