The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia

Shafie Mohamed Zabri; Kamilah Ahmad; Angelina Ann Loy Hui Lian

EN

The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia

Abstract

Private Retirement Scheme (PRS) was first introduced in 2012 in supporting the private sector employees to prepare for their retirement. The main purpose of this exploratory study is to unveil the level of awareness of PRS and investigating factors influencing the retirement planning practices. This study applies quantitative approach with the use of survey questionnaires as the main instrument of data collection. Private sector employees from five private companies in Malacca was selected as respondents of this study. Data collected was analysed using descriptive analysis. In general, findings of this study shows that relatively, the level of awareness towards PRS is still low. In addition to that, only 77% of those that aware about this scheme have an interest to invest. Various factors were found to have an influence on the retirement planning practices private sector employees in Malaysia. Overall, this study shed some information on the awareness towards PRS among private sector employees in Malaysia and also factors influencing their current state of retirement planning practices.

Keywords

Awareness, Private Retirement Scheme, Retirement Planning Practices, Private Sector Employees

Details

Primary Language

English

Subjects

-

Journal Section

-

Authors

Shafie Mohamed Zabri This is me

Kamilah Ahmad This is me

Angelina Ann Loy Hui Lian This is me

Publication Date

August 1, 2016

Submission Date

August 1, 2016

Acceptance Date

-

Published in Issue

Year 2016 Volume: 6 Number: 6

IZ

https://izlik.org/JA47RL39KT

Cite

RIS / Bibtex

APA

Zabri, S. M., Ahmad, K., & Lian, A. A. L. H. (2016). The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia. International Journal of Economics and Financial Issues, 6(6), 120-124. https://izlik.org/JA47RL39KT

AMA

1.Zabri SM, Ahmad K, Lian AALH. The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia. IJEFI. 2016;6(6):120-124. https://izlik.org/JA47RL39KT

Chicago

Zabri, Shafie Mohamed, Kamilah Ahmad, and Angelina Ann Loy Hui Lian. 2016. “The Awareness of Private Retirement Scheme and the Retirement Planning Practices Among Private Sector Employees In Malaysia”. International Journal of Economics and Financial Issues 6 (6): 120-24. https://izlik.org/JA47RL39KT.

EndNote

Zabri SM, Ahmad K, Lian AALH (August 1, 2016) The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia. International Journal of Economics and Financial Issues 6 6 120–124.

IEEE

[1]S. M. Zabri, K. Ahmad, and A. A. L. H. Lian, “The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia”, IJEFI, vol. 6, no. 6, pp. 120–124, Aug. 2016, [Online]. Available: https://izlik.org/JA47RL39KT

ISNAD

Zabri, Shafie Mohamed - Ahmad, Kamilah - Lian, Angelina Ann Loy Hui. “The Awareness of Private Retirement Scheme and the Retirement Planning Practices Among Private Sector Employees In Malaysia”. International Journal of Economics and Financial Issues 6/6 (August 1, 2016): 120-124. https://izlik.org/JA47RL39KT.

JAMA

1.Zabri SM, Ahmad K, Lian AALH. The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia. IJEFI. 2016;6:120–124.

MLA

Zabri, Shafie Mohamed, et al. “The Awareness of Private Retirement Scheme and the Retirement Planning Practices Among Private Sector Employees In Malaysia”. International Journal of Economics and Financial Issues, vol. 6, no. 6, Aug. 2016, pp. 120-4, https://izlik.org/JA47RL39KT.

Vancouver

1.Shafie Mohamed Zabri, Kamilah Ahmad, Angelina Ann Loy Hui Lian. The Awareness of Private Retirement Scheme and the Retirement Planning Practices among Private Sector Employees In Malaysia. IJEFI [Internet]. 2016 Aug. 1;6(6):120-4. Available from: https://izlik.org/JA47RL39KT