MELAKA — Monthly retirement savings withdrawals under the Employees Provident Fund’s (EPF) i-Emas retirement savings scheme could help retirees manage their finances more systematically while reducing the risk of exhausting their savings within a short period.

Private sector employee Kalpita Jatin Doshi, 30, said the approach was appropriate as it provided retirees with a regular income stream, particularly those who faced difficulties securing employment or a steady source of income after the age of 55.

The reservation executive said staggered withdrawals would enable retirees to control their daily spending while allowing the remaining savings in their EPF accounts to continue earning annual dividends.

“The i-Emas initiative is very good as it provides a continuous monthly income, with a minimum withdrawal of RM100.

“If EPF savings are withdrawn in a lump sum, there is a risk of the money running out quickly. Monthly withdrawals not only help manage spending but also allow the remaining savings in EPF accounts to continue earning annual dividends,” she told Bernama.

Sales executive Muhammad Uzaibah Fathiha Mohd Taib, 28, said the facility also allowed EPF members to plan their long-term finances in a disciplined manner, particularly to meet their needs after retirement.

He said early planning was important to ensure that savings accumulated throughout their working lives could sustain them during retirement, which could last for many years.

“As young people, having a long career ahead of us allows us to accumulate as much savings as possible.