KUALA LUMPUR, Sept. 25 -- More Malaysians are proactively shoring up their retirement savings, preparing for longer-than-expected twilight years that could stretch well beyond 75.

The Employees Provident Fund (EPF) said retirement readiness is improving in Malaysia, following a steady increase in voluntary contributions and contributions above the statutory rate.

Currently, 42 per cent of EPF members aged between 51 and 55 have achieved the Basic Savings threshold by age - up from 36 per cent two years ago.

Basic Savings refers to a pre-determined amount set according to age in the Retirement Account, ensuring members have at least RM240,000 by the age of 55.

This allows retirees to withdraw RM1,000 monthly to cover basic retirement n...