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
Pension calculator