AS Malaysia transitions into an ageing society, retirement adequacy has become a national priority.
Drawing on the urgency of financial preparation, Universiti Tunku Abdul Rahman (UTAR) is teaming up with Great Eastern Life Assurance (Malaysia) Berhad (GELM) to conduct a nationwide survey-based study focusing on retirement readiness, planning behaviours and financial concerns among Malaysians aged 40 and over.
The study, to be conducted over four months from March to June this year, is expected to engage 5,000 working Malaysians across urban and rural areas in all 13 states and three federal territories.
The survey will be conducted in English, Bahasa Malaysia and Mandarin, and will collect data on key dimensions of retirement planning, including financial preparedness and savings adequacy, preferences for professional financial advice, risk appetite in retirement-related investment decisions, as well as non-financial concerns such as health, family dependence and social well-being.
The strategic academic-industry collaboration was formalised through the signing of a memorandum of agreement (MoA) by UTAR president Prof Datuk Dr Ewe Hong Tat and GELM chief executive officer Datuk Koh Yaw Hui on Feb 24.
By integrating academic rigour with industry insights, the research aims to generate findings that will enrich public understanding, inform policy discourse and strengthen financial literacy on retirement preparedness in Malaysia, according to a UTAR press release.
The MoA also establishes a framework for knowledge transfer through faculty-industry engagement, including research dialogues, technical exchanges, seminars, conferences and related scholarly activities.
In addition, GELM has awarded a research grant to a team of seven academics from the UTAR Teh Hong Piow Faculty of Business and Finance to support the implementation of the project, effective from February.
Prof Ewe said UTAR believes that universities must serve not only as centres of learning but also as contributors to national development.
“This partnership enables us to address real societal challenges. Together, we aim to generate meaningful, evidence-based insights that strengthen Malaysia’s retirement planning landscape,” he said.
Koh said GELM is proud to support initiatives that empower people to plan for a better financial future.
“Through this nationwide survey, we hope to uncover actionable insights that will enable us to design retirement solutions that are relevant, inclusive and impactful for the communities we serve,” he said.
Findings from the study are expected to be published later this year and will support ongoing efforts to enhance financial education and contribute to improved retirement outcomes for Malaysians, the press release read.
