High time to address pension reforms, say experts

PETALING JAYA: There is a lack of lifetime payouts for most Malaysian seniors and this needs to be addressed, say experts.

Chai suggested that as an immediate reform, EPF should determine a minimum sum to be disbursed monthly. “This allows for fund redistribution; aged individuals can get at least a basic pension, while those who work will get the basic pension on top of their own occupational pension,” he said, adding that the model was adapted from the Swedish pension system.

Malaysian Coalition on Ageing chairman Cheah Tuck Wing shared similar concerns, and said all workers should be made to contribute to EPF.

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Suria FM receives prize at Asia-Pacific Broadcasting+ Awards 2024 in SingaporeCHIANG MAI: A college in Chiang Mai unveiled an innovation to mark World No Tobacco Day on Friday (May 31) – a herbal lipstick that can help smokers kick the habit.
Source: staronline - 🏆 4. / 75 Read more »

University College Sabah Foundation, University of Technology Sarawak exploring potential for collaborationKota Kinabalu: The University College Sabah Foundation (UCSF) and University of Technology Sarawak (UTS) are exploring potential avenues for academic and research collaboration between the two institutions.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »

Commvault welcomes Gareth Russell to new APAC-wide security roleCommvault announces the appointment of Gareth Russell as field chief technology officer, Security for Asia Pacific.
Source: DNewsAsia - 🏆 23. / 51 Read more »