IDEAS home Printed from https://ideas.repec.org/a/hur/ijarbs/v7y2017i7p865-871.html
   My bibliography  Save this article

Mathematical Analysis of Retirement Income Benefit Based on Annuitization Approach

Author

Listed:
  • Nik Hazimi Mohammed Foziah
  • Puspa Liza Ghazali
  • Mustafa Mamat
  • Fauzilah Salleh
  • Saiful Bahri Mohamed

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.

Suggested Citation

  • Nik Hazimi Mohammed Foziah & Puspa Liza Ghazali & Mustafa Mamat & Fauzilah Salleh & Saiful Bahri Mohamed, 2017. "Mathematical Analysis of Retirement Income Benefit Based on Annuitization Approach," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(7), pages 865-871, July.
    • Handle: RePEc:hur:ijarbs:v:7:y:2017:i:7:p:865-871
    as

    Download full text from publisher

    File URL: http://hrmars.com/hrmars_papers/Mathematical_Analysis_of_Retirement_Income_Benefit_Based_on_Annuitization_Approach.pdf
    Download Restriction: no
    File URL: http://hrmars.com/hrmars_papers/Mathematical_Analysis_of_Retirement_Income_Benefit_Based_on_Annuitization_Approach.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jee Yoong FOLK & Loo See BEH & Diana-Lea BARANOVICH, 2012. "Financial education: Determinant of retirement planning in malaysia," E3 Journal of Business Management and Economics., E3 Journals, vol. 3(2), pages 069-078.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yiing Jia Loke, 2015. "Financial Knowledge and Behaviour of Working Adults in Malaysia," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 9(1), pages 18-38, February.
    2. Zaimah Ramli & Henry Borromeo Anak Nyirop & Sarmila Md Sum & Abd Hair Awang, 2022. "The Impact of Financial Shock, Behavior, and Knowledge on the Financial Fragility of Single Youth," Sustainability, MDPI, vol. 14(8), pages 1-13, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hur:ijarbs:v:7:y:2017:i:7:p:865-871. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hassan Danial Aslam (email available below). General contact details of provider: http://hrmars.com/index.php/pages/detail/IJARBSS .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.