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For most Malaysians, EPF (Employees Provident Fund) savings are the foundation of retirement planning
But with the cost of living rising and people living longer, it's totally fair to ask: How much should you actually have saved in your EPF by the time you hit your 30s, 40s, 50s, or 60s?
This guide breaks down the updated EPF savings targets by age, based on the latest framework introduced for 2025. Whether you're just getting started or catching up, it'll help you figure out where you stand and what to aim for.
What's new: The updated EPF savings framework (2025 onwards)
EPF has moved away from just one basic savings target. Now, there's a three-tier system to better reflect different retirement needs:
- Basic Savings (RM390,000 by age 60): Covers essential living costs during retirement
- Adequate Savings RM650,000 by age 60): Aims for a more comfortable lifestyle, especially in urban areas
- Enhanced Savings (RM1.3 million by age 60): Designed for those who want greater financial freedom and security in retirement
Here's a breakdown of how much you should ideally have saved by each age milestone:
Note: The full rollout of the new basic target (RM390,000 by age 60) will be completed by 1 January 2028.
Click here for the full list of EPF self-service terminals in Malaysia that you can use to check your account balance.
So, how are Malaysians doing?
The truth? Many people are still falling short — even from the old targets.
A lot of members withdraw early from Account 2 for housing, education, or emergencies, which can really eat into long-term savings. So while the new targets are great for future planning, they may feel out of reach for many right now.
How to stay on track with your EPF goals
If you've been working full-time since your 20s and making standard contributions (currently 24% combined for salaries under RM5,000), you might be on the right path, as long as you avoid dipping into your EPF unnecessarily.
But if you're self-employed, a gig worker, or started saving later in life, you may need to take extra steps:
- Try saving 20–30% of your income if you can
- Top up your EPF voluntarily through i-Saraan or self-contributions
- Think twice before withdrawing from Account 2 unless it's essential
- Use the i-Akaun calculator to see if your current pace is enough to meet your goals
If you want a more comfortable retirement, here's what you'll need
The "basic" savings goal is just that — basic. If you're aiming for more breathing room in your retirement years, especially if you live in the city, the "adequate" or "enhanced" targets are worth aiming for.
Here's a rough idea of how much you'll need for 20 years of retirement, based on different starting monthly income goals:
To hit the higher savings targets, it's worth looking beyond just EPF. Some options include:
- Private Retirement Schemes (PRS)
- Amanah Saham Bumiputera (ASB)
- Investments like unit trusts or stocks
- Rental income
- Regular savings outside your EPF
Your EPF savings are a key part of your retirement safety net. Knowing what you should have saved by a certain age can help you take control of your financial future.
You can start building healthy EPF habits now by doing these simple things:
- Avoid early withdrawals unless absolutely necessary
- Make voluntary contributions — even small amounts add up
- Delay retirement by a few years if you can (and want to) — it gives your savings more time to grow
- If you're switching jobs, compare employer EPF contributions
- Check your i-Akaun regularly to keep track of your progress
Read our full guide to EPF in Malaysia so you know what your money is doing.
Image via Utusan Malaysia
