How Much Do You Need to Save for Retirement?
It’s always good to start saving for your retirement once you begin to earn a monthly salary. Save regularly to grow your retirement savings.
Use this calculator to find out how much you will need to save for your retirement.
I am years old and planning to retire at age . I need my retirement income until age
My current monthly salary is RM
My last drawn salary is approx. RM and I want approx. RM a month during retirement
My current EPF total savings is RM
Total % EPF contribution per month
My current PRS savings is RM
My monthly contribution to PRS is %
Before retirement, I would like a % annual rate of return for my PRS savings.
Upon retirement, I will continue my savings invested with % of return p.a.
Current inflation rate is % per annum
Your Retirement Funds at Age
The above information is for illustration only and is based on your data input including the following assumptions.
- * Recommend 2/3 of your last drawn salary to maintain your existing living standards into retirement.
- Your annual income increment rate is at 3%.
- Inflation rate is at default 3% per annum.
- Life time EPF savings average at default 4% dividend rate per annum.
- Upon retirement, you will keep your savings invested with 4% default rate of return p.a. and make monthly withdrawal of an amount that you will need.
The Retirement Calculator should be used as a guide and not as a guarantee of meeting your retirement savings goal or intended to provide investment advice. Please consult a PRS Consultant for your retirement plan.