Private Retirement Scheme in Malaysia: Legal Analysis

Azlin Namili Mohd ALİ; Asmah Laili YEON; Mohammad Azam HUSSAİN

Article Details

Private Retirement Scheme in Malaysia: Legal Analysis

Authors:

Azlin Namili Mohd ALİ | Asmah Laili YEON | Mohammad Azam HUSSAİN

Publisher:

İlhan ÖZTÜRK

Journal:

International Journal of Economics and Financial Issues 2016 Vol.6 Issue 7, pp.290-295

Document Type:

Article

Publication Date:

9/2016

Document Language:

Turkish

Document ID (Org No.):

2000812406

Frequency:

Bimonthly

eISSN:

2146-4138

Abstract:

 

The Government recognizes the significance of savings to guarantee sufficient savings after retirement. In this regard, the Malaysian Government established the Private Retirement Scheme (PRS) in 2012 as a complementary scheme to the existing pension schemes. PRS seeks to provide alternatives for employed or self-employed Malaysian citizens, to enhance a well-structured and regulated scheme. By using a legal research approach, this study seeks to analyse the existing legislations governing PRS in Malaysia. The study found that the PRS is mainly regulated by Capital Markets and Services Act 2007 and other legislations. There are several legal challenges that can be observed in PRS system. Among them are PRS Guidelines 2012 only provide a minimum standard in relation to the governance policy of PRS providers and CMSA is silent in the matters regarding PRS scheme based on Shariah principles to be offered by the providers.

Article Details

Private Retirement Scheme in Malaysia: Legal Analysis

Authors: Azlin Namili Mohd ALİ | Asmah Laili YEON | Mohammad Azam HUSSAİN

Publisher: İlhan ÖZTÜRK

Journal: International Journal of Economics and Financial Issues 2016 Vol.6 Issue 7, pp.290-295

Document Type: Article

Publication Date: 9/2016

Document Language: Turkish

Document ID (Org No.): 2000812406

Frequency: Bimonthly

eISSN: 2146-4138

Issues

Authors:

Azlin Namili Mohd ALİ | Asmah Laili YEON | Mohammad Azam HUSSAİN

Publisher:

İlhan ÖZTÜRK

Journal:

International Journal of Economics and Financial Issues 2016 Vol.6 Issue 7, pp.290-295

Document Type:

Article

Publication Date:

9/2016

Document Language:

Turkish

Document ID (Org No.):

2000812406

Frequency:

Bimonthly

eISSN:

2146-4138