EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us
Channel: Do More - Take Charge of Your Life
Date: 2023-07-24

#retirement  #malaysia  #aged #pension #investing #savings 

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.) 

(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).

CONTENTS 

00:00:00 - Introduction
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 

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FOLLOW HISHAM HERE: 
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