65-year-old drives e-hailing after EPF runs dry
The issue was recently highlighted by Finance Minister II Datuk Seri Amir Hamzah Azizan in the Dewan Negara, where he warned that the trend could place increasing pressure on the government to expand social protection programmes for the elderly.
SHAH ALAM - A viral account of a 65-year-old man returning to work as an e-hailing driver after depleting nearly RM400,000 in Employees Provident Fund (EPF) savings within just a few years has reignited concerns over whether Malaysians are financially prepared for retirement.
The case has resonated widely because it reflects a growing concern facing many Malaysians, that retirement savings accumulated over decades may not be sufficient to sustain them throughout old age.
Many workers assume that having between RM300,000 and RM400,000 in their EPF accounts will provide adequate financial security. However, once they retire, daily necessities such as groceries, utility bills, medication and healthcare costs can quickly erode those savings.
The concern is reinforced by EPF data showing that most members exhaust their retirement savings within less than five years after leaving the workforce. As a result, many retirees who stop working at 60 may find themselves searching for new sources of income by the age of 65.
The issue was recently highlighted by Finance Minister II Datuk Seri Amir Hamzah Azizan in the Dewan Negara, where he warned that the trend could place increasing pressure on the government to expand social protection programmes for the elderly.
Although the proportion of EPF members meeting the basic savings benchmark rose to 38.3 per cent as of July 2025, financial preparedness remains a significant concern. The challenge extends beyond accumulating retirement savings to ensuring those funds remain sufficient throughout retirement.
Across Malaysia, increasing numbers of senior citizens continue working to support themselves. Some earn a living through e-hailing services, while others work as security guards, roadside traders, recyclable material collectors or cleaners.
The situation serves as a timely reminder that retirement planning does not begin at the age of 60, but with the financial decisions made much earlier in life.
Ultimately, everyone hopes to enjoy a secure and dignified retirement, free from the uncertainty of wondering how they will afford tomorrow's living expenses.
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