UPM - KWAP Initiates Primary Ageing Research To Promote Retirement Preparedness And Productive Retirement In Malaysia | Universiti Putra Malaysia
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UPM - KWAP initiates primary ageing research to promote retirement preparedness and productive retirement in Malaysia

 

KUALA LUMPUR, 26 Mei - Malaysian Research Institute on Ageing (MyAgeing), Universiti Putra Malaysia (UPM) and Kumpulan Wang Persaraan (Diperbadankan) [KWAP] signed a Memorandum of Understanding (MoU) to establish a working relationship in the effort to promote productive retirement and improve the quality of life for the ageing population in the country, starting with the Government’s employees (pre-retirees) and retirees.

Chief Executive Officer of KWAP, Dato’ Wan Kamaruzaman Wan Ahmad said the MoU is essential in fostering research and knowledge exchange to facilitate formulation of ideas that are supported and backed by proper research.

“Subsequently, the ideas can be used towards enhancing existing policies, products, or services in relation to retirement and productive ageing. It is even more profound given the steady growth of Government’s pensioners and improvement in life expectency as people live longer than before. As at end of 2016, there are close to 480,000 pensioners countrywide, and this number is expected to reach to 600,000 by 2020.”

“Thus, it is imperative for KWAP to establish its research capabilities in the  areas of retirement and ageing to gather invaluable insights and provide us with the solid basis for our future plans. Through strategic collaboration with an esteemed institution such as MyAgeing, we are one step closer towards this objective,” he said.

UPM Vice Chancellor, Prof. Datin Paduka Dr. Aini Ideris said the MoU is a positive starting point for UPM and KWAP to work together in the near future in the areas of mutual interests between the two organizations.

“The MoU will promote cooperation, publications and research activities in the area of ageing and retirement especially in financial, health, insurance coverage, motivation and other areas that can improve the general well being of the government retirees,” she said.

Director of MyAgeing UPM, Prof. Dr. Tengku Aizan Hamid said with a focus on improvements in the welfare and livelihood of Government employees and pensioners the MoU is indeed an exciting development for us, as it recognises our institution’s credibility in the field of gerontology.

“It marks the beginning of a long-term symbiotic relationship that we are sharing between the two institutions, where opportunities are abundant. We look forward to working closely with KWAP,” she said.

The MoU commits the two institutions to share knowledge, information, and expertise relevant to retirement planning, specifically in the context of socioeconomy, finances, healthcare, social and psychological, and living conditions towards achieving the objectives of the collaboration.

The initial phase of the MoU will see both organisations embarking on a research programme  to measure the level of retirement preparedness of the pre-retirees and pioneering the approach of productive ageing amongst the retirees in the Klang Valley.

The approach allows for quantification of specific economic data to measure the contribution of retirees towards the economy and society as a whole, as well as to identify enablers that promote and increase the value of productive ageing.

The research outcome is expected to present valuable insights which can be used by KWAP to enhance the effectiveness of its financial outreach programmes and devise other value-added initiatives that would further enhance the well-being of pensioners. 

At a national level, it is envisaged that the research outcome may serve as a catalyst for the Government and relevant stakeholders to improve on its existing policies or formulate new policies to facilitate Malaysia’s rapidly ageing population to prepare for their retirement years. - UPM

 

Updated:: 31/05/2017 [hairul_nizam]

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