Says Malaysian Employers Federation (MEF) executive director Shamsuddin Bardan: “There’s a big gap between the age of retirement and when we pass on. This becomes a burden to society and a burden to the Government if we don’t harness the potential of the retirees.”He adds that as people start families at an increasingly late age, their children are likely to be financially dependent even after the parents’ retirement.
With no more income and little preparation for that eventuality, this this can lead to hardship. Tan of FPAM says: “The reality is that the majority of Malaysians can ill afford retirement.”
Source: http://biz.thestar.com.my/news/story.asp?file=/2010/9/4/business/6960500&sec=business
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