Pension Plan in Malaysia

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ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without which I would have never been able to do this research.



DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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Table of contents

ACKNOWLEDGEMENTII

DECLARATIONIII

CHAPTER 01: INTRODUCTION5

Background of the Study5

Problem Statements5

CHAPTER 02: LITERATURE REVIEW8

Corporate Philosophy9

Assessment of Competitors' Plans10

Financing Considerations11

CHAPTER 03: RESEARCH METHODOLOGY13

Research Methods13

Qualitative Research Method13

Quantitative Research Method14

Research Design14

Search Technique16

Advantages of Secondary Research17

Disadvantages of Secondary Research18

Inclusion and exclusion criteria18

Ethical Consideration18

CHAPTER 04: DISCUSSION20

Role of Pension Plan in Attracting New Employees20

The Cost of Benefit Plan Administration21

Union Activity22

CHAPTER 05: CONCLUSION23

REFERENCES25

CHAPTER 01: INTRODUCTION

Background of the Study

The problem of caring for large numbers of poor who are aged is a relatively new one for the many governments around the world. It is only since World War II that significant population aging has occurred in the more industrialized countries, and the rapid growth in the number of aged persons in the less developed countries of the world is only just beginning. Yet, already in the 1980's there are as many people over age 65 living in the world's less developed nations as there are in the more developed ones, From this point forward , a rapidly growing majority of the world's aged will reside in the developing countries.

Dependent family members in basically agrarian societies have been the economic responsibility of the family's workers. Although the economies of most of the Third World countries are still more than 80 percent agricultural, the process of industrialization is proceeding rapidly in many of them. As workers migrate from rural farm lands to urban centres seeking wage based jobs, the traditional extended family support networks and intergenerational income transfer for the care of dependents fall victim to this industrialization process. Yet as these networks weaken it is unclear what new mechanisms and income support pat tarns for dependent family members will replace them. The projection of unprecedented numbers of older people in these countries makes the question of their economic support a pressing one.

Problem Statements

In recent years the majority of Third World governments have undertaken sponsorship of some form of old age social insurance. These programs are for the most part geared to employees in wage based industries. A second source of old age support being initiated in some countries is old age pensions sponsored by private employers. The retirement experience and the concept of retirement pensions is a new one for most people in developing countries. Yet, as employees reach old age, which they will do in significantly greater numbers than in the past, more and more will be in a new status, retirement. Private pensions are potentially a major replacement ...