Scholar

Planning and Preparedness for Retirement by Public Sector Employees

By: Kuppusamy Singaravelloo   Nurul Liyana Mohd Kamil   Sook Lu Yong   Muzalwana Abdul Talib   Nurhidayah Abdullah  

Retirement often takes place in the corporate sphere and occurs across the globe.In countries with a statutory retirement age, an individual eventually reaches the age limit to leave the organisation. Many of the older workers are not fully prepared for their retirement in many developing countries. In Malaysia, for lower income groups, they are the most affected particularly in terms of their well-being after facing compulsory retirement. This research intends to identify the set of retirement plans lower rung civil servants have and the proportion of them who have plans to continue working after retirement. The research reached out to 1598 support staff in all three tiers of governments by means of a guided questionnaire survey at the institutions. Results of the study find that more than half of the respondents do not plan to continue work after retirement and they have not planned financially well for life after their retirement. Their level of awareness of retirement benefits is also low. Several reasons influence respondents to continue working after their statutory retirement: to sustain their life after retirement (40%), still able to contribute to the labour force (27%) and like to work (23%). The poor financial literacy among the respondents at the civil service is worrisome as this lacking causes adverse effects on their wellbeing after their statutory retirement.

CIVIL SERVANTS, LOWER INCOME, SUPPORT STAFF, RETIREMENT PLANNING
Public Policy and Public Perspectives on Aging
Paper Presentation in a Themed Session



Dr. Kuppusamy Singaravelloo

Associate Professor & Head of Department, Department of Administrative Studies & Politics, Fac. of Economics & Administration, University of Malaya, Malaysia
Malaysia

Associate Prof Dr Kuppusamy Singaravelloo has been an academician at the Faculty of Economics and Administration, University of Malaya since 1992, and a senior lecturer since 2005. His research interests are on retirement wellbeing, local government, housing, public enterprises and privatisation. He has provided input as a consultant especially in the fields of management, finance and implementation in numerous Local Plans and Structure Plans in Malaysia since 1993. He is currently active in Social Impact Assessment mostly on infrastructure projects (highway, railway, bus ways, industrial estates). He has successfully completed a number of studies for Malaysian Ministry of Urban Wellbeing, Housing and Local Government; Ministry of Women, Family and Community Development; Ministry of Finance; Ministry of Higher Education; Iskandar Regional Development Authority; State Government of Johor; ADB; UNESCO and The World Bank. He was Acting Director for 10 months and Deputy Director (Academic) at University of Malaya Centre for Continuous Education for 4 years. He is back to the faculty to serve as the Head, Department of Administrative Studies & Politics. He has a continuous string of supervising postgraduate students and has 7 PhD who has graduated.



Nurul Liyana Mohd Kamil

SENIOR LECTURER, UNIVERSITY OF MALAYA, Malaysia
Malaysia



Sook Lu Yong

Senior Lecturer, University of Malaya, Malaysia
Malaysia



Dr. Muzalwana Abdul Talib

Senior Lecturer, University of Malaya, Malaysia
14 - FEDERAL TERRITORY OF KUALA LUMPUR, Malaysia



Nurhidayah Abdullah

Senior Lecturer, University of Malaya, Malaysia
Malaysia