EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us
Do More - Take Charge of Your Life
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Show Notes
#retirement #malaysia #aged
EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us
With costs outrunning salaries and a rapidly ageing population, Malaysia’s retirement time bomb has already exploded.
Nurhisham Hussein, a longtime professional acquaintance and Chief Strategy Officer at the Employees Provident Fund (EPF), Malaysia’s largest pension fund, talks to Khoo Hsu Chuang about some solutions, both at a personal and policy level. (Hint: they’re both painful.)
CONTENTS
00:02:41 - Snapshot of Malaysia’s Retirement Crisis
00:14:20 - What is the Policy Response?
00:18:04 - How Are People Getting By?
00:19:35 - Who Is Responsible For Your Financial Future? You? Or The State?
00:25:25 - What To Do About the Ever-Weakening Ringgit
00:29:26 - Undeclared Assets
00:33:49 - Nonexistent Financial Literacy
00:38:29 - Priority List of Financial Planning
00:44:50 - Can Malaysia Raise Taxes Like in the West (to Pay for Social Safety Nets)?
00:48:09 - Do Subsidies Result in a Culture of Mediocrity?
00:50:10 - The Singapore Comparison is Painful
00:52:19 - Direction of Structural Reform
01:00:52 - How Both the State and Private Sector Can Rethink Retirement
01:04:17 - How Good Health is Instrumental in Old Age
01:06:00 - What’s the TL:DR Here? A Summary
01:11:57 - For People, Rethink Retirement
(Many thanks to the Asia School of Business for their collaboration with The Do More Podcast, in whose studio this conversation was recorded. The Asia School of Business is a partnership between MIT Sloan School of Management and Bank Negara Malaysia).
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FOLLOW HISHAM HERE:
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B: https://tinyurl.com/2dk6npbp
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