Hybrid pension scheme proposed to address retirement challenges

PETALING JAYA: A hybrid scheme, which combines the Employees Provident Fund (EPF) and the civil service pension scheme, would be the way to go, says an economic expert.

Prof Datuk Dr Nik Maheran Nik Muhammad (pic), who is also Universiti Malaysia Kelantan’s deputy vice-chancellor, said by adopting such a hybrid system, the government can offer retirees the security of a pension while maintaining the flexibility and growth potential of the EPF, benefiting both parties in the long run.