Private Retirement Scheme in Malaysia: Legal Analysis

Volume: 6 Number: 7 October 1, 2016
  • Azlin Namili Mohd Ali
  • Asmah Laili Yeon
  • Mohammad Azam Hussain
International Journal of Economics and Financial Issues Cover
International Journal of Economics and Financial Issues
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Private Retirement Scheme in Malaysia: Legal Analysis

Abstract

The Government recognizes the significance of savings to guarantee sufficient savings after retirement. In this regard, the Malaysian Government established the Private Retirement Scheme (PRS) in 2012 as a complementary scheme to the existing pension schemes. PRS seeks to provide alternatives for employed or self-employed Malaysian citizens, to enhance a well-structured and regulated scheme. By using a legal research approach, this study seeks to analyse the existing legislations governing PRS in Malaysia. The study found that the PRS is mainly regulated by Capital Markets and Services Act 2007 and other legislations. There are several legal challenges that can be observed in PRS system. Among them are PRS Guidelines 2012 only provide a minimum standard in relation to the governance policy of PRS providers and CMSA is silent in the matters regarding PRS scheme based on Shariah principles to be offered by the providers.

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Primary Language

English

Subjects

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Journal Section

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Authors

Azlin Namili Mohd Ali This is me

Asmah Laili Yeon This is me

Mohammad Azam Hussain This is me

Publication Date

October 1, 2016

Submission Date

October 1, 2016

Acceptance Date

-

Published in Issue

Year 2016 Volume: 6 Number: 7

IZ

https://izlik.org/JA88LL23BX

Cite

RIS / Bibtex
APA
Ali, A. N. M., Yeon, A. L., & Hussain, M. A. (2016). Private Retirement Scheme in Malaysia: Legal Analysis. International Journal of Economics and Financial Issues, 6(7), 290-295. https://izlik.org/JA88LL23BX
AMA
1.Ali ANM, Yeon AL, Hussain MA. Private Retirement Scheme in Malaysia: Legal Analysis. IJEFI. 2016;6(7):290-295. https://izlik.org/JA88LL23BX
Chicago
Ali, Azlin Namili Mohd, Asmah Laili Yeon, and Mohammad Azam Hussain. 2016. “Private Retirement Scheme in Malaysia: Legal Analysis”. International Journal of Economics and Financial Issues 6 (7): 290-95. https://izlik.org/JA88LL23BX.
EndNote
Ali ANM, Yeon AL, Hussain MA (October 1, 2016) Private Retirement Scheme in Malaysia: Legal Analysis. International Journal of Economics and Financial Issues 6 7 290–295.
IEEE
[1]A. N. M. Ali, A. L. Yeon, and M. A. Hussain, “Private Retirement Scheme in Malaysia: Legal Analysis”, IJEFI, vol. 6, no. 7, pp. 290–295, Oct. 2016, [Online]. Available: https://izlik.org/JA88LL23BX
ISNAD
Ali, Azlin Namili Mohd - Yeon, Asmah Laili - Hussain, Mohammad Azam. “Private Retirement Scheme in Malaysia: Legal Analysis”. International Journal of Economics and Financial Issues 6/7 (October 1, 2016): 290-295. https://izlik.org/JA88LL23BX.
JAMA
1.Ali ANM, Yeon AL, Hussain MA. Private Retirement Scheme in Malaysia: Legal Analysis. IJEFI. 2016;6:290–295.
MLA
Ali, Azlin Namili Mohd, et al. “Private Retirement Scheme in Malaysia: Legal Analysis”. International Journal of Economics and Financial Issues, vol. 6, no. 7, Oct. 2016, pp. 290-5, https://izlik.org/JA88LL23BX.
Vancouver
1.Azlin Namili Mohd Ali, Asmah Laili Yeon, Mohammad Azam Hussain. Private Retirement Scheme in Malaysia: Legal Analysis. IJEFI [Internet]. 2016 Oct. 1;6(7):290-5. Available from: https://izlik.org/JA88LL23BX