Universal Basic Pension News Today

PETALING JAYA: The move to review income classification to ensure effective delivery of assistance is timely as many are affected by the adverse effects of the Covid-19 pandemic and economic instability of recent years, say experts.

PETALING JAYA: There is much that can be done so that Malaysians can benefit more from Budget 2023, say economists.

PETALING JAYA: Malaysia is expected to announce another smashing economic growth rate for the third quarter of 2022 (3Q22) amid very strong economic data and early signs of growth weakness ahead.

PETALING JAYA: While the Employees Provident Fund (EPF) provides the best savings and retirement scheme for private sector workers, economists are advising them to invest in other schemes as well to tide them over.

KUALA LUMPUR, Nov 25 — Drastic steps like the introduction of a universal retirement savings scheme and extending the retirement age need to be implemented soon to ensure Malaysians can retire “safely”, economists warned. They added there also needs to be a shift in society’s mindset...

Indications are that the country’s population is growing old at a faster rate that had been previously thought. What are the repercussions economically and socially?

OCT 3 — Based on current estimates of retirement savings, the majority of Malaysians will live in abject, absolute poverty during the final years of their lives. To see this, we need to note that Malaysia’s working-age population is around 23.3 million people with 16.0 million in the workforce...