Mathematical Analysis of Retirement Income Benefit Based on Annuitization Approach
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2017, Vol 7, Issue 7
Abstract
Retirement income inadequacy is one of the major problems to the private sector workforce with defined contribution retirement scheme. It is believed the existing system of Employees Provident Fund (EPF) in Malaysia adopted of lump-sum payment of their retirement benefits should be replaced by annuity-based scheme which can control the total retirement funds balance of the members. Using a mathematical analysis, the comparing system of retirement benefits by EPF can be analyzed. It is clearly showed that, with annuity-based scheme provide the retirees with a steady income stream for the next 20 years after retirement age.
Authors and Affiliations
Nik Hazimi Mohammed Foziah, Puspa Liza Ghazali, Fauzilah Salleh, Saiful Bahri Mohamed
Keywords
Related Articles
- EP ID EP615387
- DOI 10.6007/IJARBSS/v7-i7/3160
- Views 98
- Downloads 0
The Relationship between Strategic Performance Measurement System and Managerial Work Performance of Co-operatives in Malaysia
Performance measurement system has been recognized as critical factor for the effective and efficient management tool in competitive environment. The main research purpose is to investigate the current practices of strat...
Analysis of Numerical Understanding Analysis for Primary School
This study aims to examine the level of understanding of Fourth Year student numeracy based on Critical Numeracy Model. The four levels in the Numeracy Understanding Model (NUM) applied in this study are de-coding, meani...
A Study on Inventory Management towards Organizational Performance of Manufacturing Company in Melaka
Inventory exists in almost every organization, it is crucial for an organization to have good understanding and strategy about inventory management. Inventory management has significance for an enterprise in an inventory...
Child Marriage, A Culturally Accepted Privilege of Orthodoxies: The Case of Pakistan
Child marriage is universally believed to be the marriage under the age of eighteen. In other words, an immature or irresponsible person that has no ability to act independently. Child marriage practice is rampant in sev...
Influence Of Cross Cultural Differences on International Marketing
The paper is premised on the influence of cross cultural differences (CCD) in foreign markets. International or foreign marketing is the trading of goods and services across national boundaries of nations. To achieve the...