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 82
- Downloads 0
The Relationship between Entrepreneurial Orientation, Business Networks Orientation, Export Market Orientation and SME Export Performance: A Proposed Research Framework
This study proposing a research framework of the relationship between Entrepreneurial Orientation (EO), Export Market Orientation (EMO), Business Network (BNO) and SME export performance in Pakistan. This framework devel...
Ecllessial Community and Servant Models towards Shepherding the Youth more Effectively in St Peter Claver’s Catholic Parish, Nairobi County-Kenya
Pope Francis in his Exhortation Gaudete et Exsultate (Rejoice and be Glad) 2018 -henceforth GE- creates awareness that the kernel of shepherding the Lord’s flock is to bring about authentic joy and gladness as one addres...
Local Leaders’ Perception on the Adaptive Capacity towards Climate Change Impacts among Small Scale Fishermen
This study aims to explore the local leaders’ perceptions on the adaptive capacity towards climate change impacts among small scale fishermen. This study is quantitative in nature which used a questionnaire that was deve...
Digitization of Records and Archives: Issues and Concerns
Digitization is the process of converting information into a digital format. Records is an information that are create, receive and maintain by an organization as an evidence while archive is a document that contain hist...
An OLS Approach to Modelling the Determinants of Private Investment in Ghana
After independence, most developing countries embraced the development paradigm of import substitution. Nevertheless, in the 1980s, there was a shift in development paradigm from import substitution to the private sector...