Aims: Delve further into the Malaysia’s Employees Provident Fund (EPF) scheme by exploring the perceptions of 300 retirees and prospective retirees on the adequacy of incomes in retirement provided by the current EPF system.

Methodology: By employing the logistic model, the perceptions of 250 retirees and 50 currently working employees, were evaluated as part of the overall assessment on the strategic pathway of the EPF system towards becoming a reliable provider of financial security for elderly workers.

Results: The study obtained relatively similar results regarding key factors of retirement income adequacy for retirees and prospective retirees. Key factors namely the number of dependent persons, average non-EPF savings, housing loan, car loan and medical expenses are found to be negatively related to retirement income adequacy.

Conclusion: Therefore, necessary improvements on the current EPF scheme need to be implemented so that the provision of accumulated financial resources for both retirees and prospective retirees aimed at ascertaining appropriate adequacy levels of retirement incomes can be monitored in a timely manner.

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