Managing money and retirement planning: Academics’ perspectives

Lai, Mingyong; Lai, Ming Ling; Lau, Siok Hwa

doi:10.1057/pm.2009.14

Cited by 15 publications

(13 citation statements)

References 13 publications

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“…Overall, findings from this study showed that those who had a savings program for retirement were more confidents about their retirement. Lai, Lai and Lau (2009) conclude that those aged above 50 years are relatively more concerned about living expenses after retirement than those aged less than 30 years. Besides, there is significant difference between teaching position, education and age across the annual income levels from academicians' perspective.…”

Section: Literature Reviewmentioning

confidence: 85%

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Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

Hassan¹,

Rahim²,

Ahmad³

et al. 2016

JPL

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Problems have been identified pertaining to retirement scheme of the private sector employees in Malaysia where there is no legislated pension system in force. As a result of that, pension scheme and savings are more of a voluntary basis; although the principle is good but in practice many retirees suffer financially during their retirement. The objectives of this study are to examine factors contributing to individual's retirement planning behavior and the private pension system in the private sector in Malaysia. Retirement planning behaviour in this study was measured with series of questions on behaviour about retirement planning. A total of 500 working individuals from private sectors in the age group of 40 years and above had participated in this study. The results identified several significant variables in the prediction of retirement planning among working individuals in Malaysia, including individual who had higher levels of education, higher levels of income, financial literacy, retirement goal clarity and attitude towards retirement. There is a correlation between retirement planning behavior and saving for old aged. As a response to the result collected from the survey, a legal proposition is put forward to address issues of pension during retirement among private sector's employees.

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Section: Literature Reviewmentioning

confidence: 85%

“…The similar study to this, VanDerHei & Olsen (2000); Joo & Pauwels (2002) found that males had higher confidence than female in planning for their retirement. In contrast, Tuan-Hock, et al (2011) andLai, Lai &Lau (2009) found that females tend to allocate more contributions for retirement saving.…”

Section: Multiple Linear Regression Analysismentioning

confidence: 93%

Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

Hassan¹,

Rahim²,

Ahmad³

et al. 2016

JPL

View full text Add to dashboard Cite

show abstract

“…Retirement planning is an individual's financial and non-financial preparation for their retirement life (Hanisch, 1995). Lai et al (2009) found that that lack of preparation for retirement will generally cause some form of disappointment during retirement. Although planning for retirement can be a challenging task, people are advised to do so as earlier as possible to guarantee a higher living standard in their golden years (Ng et al, 2011).…”

Section: Retirement Planning and Buying Intentionmentioning

confidence: 99%

To Retire or not to Retire: Intention towards Concept of Retirement Village in Malaysia

Lim¹,

Ng²,

Basha³

2019

AJBR

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The aging population has become a global phenomenon, posing as a major societal issue, especially in developing countries. The retirement village concept has emerged as a reliable option to suit the retirement lifestyle of the elderly. The present study aims to explore the perceptions of Malaysians' buying intentions of retirement village units in Malaysia. Utilizing a quantitative approach, a total of 261 usable questionnaires were collected via self-administrated method and subsequently analyzed using PLS-SEM. Perceived risk, communicability, retirement planning, and social sustainability were found significant in influencing retirement village buying intention. The research findings have implications for both developers and academicians when embarking on retirement village project developments in Malaysia.

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“…The availability of income sources and potential resources after retirement are important considerations. Financial education and retirement planning provides an important basis for the development of new human resource policies in higher education and the importance of proper retirement planning, prior to retirement (Lai et al, 2009). These issues and challenges will be the key input to the sound retirement planning.…”

Section: Suggestion For Improvementmentioning

confidence: 99%

Retirement Planning in Malaysia: Issues and Challenges to Achieve Sustainable Lifestyle

Tai¹,

Sapuan²

2018

TOJDAC

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Malaysia will be an ageing population by 2030, less than 15 years from now. Many issues and challenges will arise due to this change of demographic scenario. Current situation shows Malaysians are not ready to face the challenges ahead. This study aims to explore the issues and challenges facing by Malaysians due to fast ageing population. This study will also highlight some suggestion for improvement to encourage the people and the Government for actions and planning to be taken to achieve a sustainable lifestyle especially for aged population. Among the primary suggestions for improvement are: An efficient involvement of the Government sector, spurring the financial literacy among the Malaysian on ageing financial planning as early as possible, continuous of Government support and incentives for Private Retirement Scheme (PRS) via strengthening the

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Managing money and retirement planning: Academics’ perspectives

Cited by 15 publications

References 13 publications

Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

Retirement Planning Behaviour of Working Individuals and Legal Proposition for New Pension System in Malaysia

To Retire or not to Retire: Intention towards Concept of Retirement Village in Malaysia

Retirement Planning in Malaysia: Issues and Challenges to Achieve Sustainable Lifestyle

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