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Challenges of private retirement scheme (PRS) in Malaysia


Mohd Ali @ Ramli, Azlin Namili and Yeon, Asmah Laili and Hussain, Mohammad Azam (2015) Challenges of private retirement scheme (PRS) in Malaysia. In: USM International Conference on Social Sciences 2015 (USM-ICOSS2015), 27th – 28th August 2015, Rainbow Paradise Beach Resort, Penang.

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Abstract

This paper intend to compare and analyse the private retirement scheme (PRS) and other retirement schemes that exists in Malaysia.PRS is a complementary scheme to the existing Malaysian pension schemes that are Government Pension Scheme (GPS) and Employees Provident Fund (EPF).There are many differences between the three retirement schemes such as the dividend in EPF is guaranteed, the government servant will received their pension after retirement but PRS depend solely on the investment made by contributor; EPF and GPS give death and incapacitation benefits to their members but not PRS; income tax relief are given to PRS contributor and EPF members.These differences lead to challenges in providing PRS to contributors especially during the economic downturn faced by our country today.

Item Type: Conference or Workshop Item (Paper)
Additional Information: eISBN 978-967-11473-3-7
Uncontrolled Keywords: Private retirement scheme; Employee provident fund; Government scheme
Subjects: H Social Sciences > HG Finance
Divisions: College of Law, Government and International Studies
Depositing User: Mdm. Azlin Namili Mohd Ali @ Ramli
Date Deposited: 10 Feb 2016 02:40
Last Modified: 10 Feb 2016 02:40
URI: http://repo.uum.edu.my/id/eprint/17106

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