Account 3, known as the Flexible Account for members below the age of 55, is one the biggest changes the Employees Provident Fund (EPF) has implemented in recent times
When Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said in January that the government is scrapping the pension scheme for new civil servants as part of its pension reform plan, it was met with much resistance.
Marian Leonard filed for Social Security when she turned 65. She did not sign up for Medicare at the same time, because she could not afford to pay the monthly premiums. But that was a costly mistake that serves as a warning to anyone navigating the transition to retirement.