Wannabe Uni Academic

Q1. Are Malaysian pensioners happy?

I think, no.

Q2. What are some of the things that our pensioners are not happy about?

There many terrible unhappy things said about pension.

Q3. What is our current retirement and pension like?

Retirement was at 55 years, and then at 56 years. Retirement age is 60 years for Malaysians since 2013. Monthly pension is set at 40% of last monthly pay.

If a non-medical lecturer professor earns a basic pay (gaji pokok) of RM13,383.06 a month, then 40% gives a pension of RM5,353.224 a month.

Q4. Will the pensioner make it happily in her retirement age with RM5K?

I don't know but I have a gut feeling that things are getting pricier by the day and year. By the time I reach full pensionable age in 2018, things will certainly be terribly expensive than in 2013. If I live to that age, I hope my pension is sufficient and that there are mechanisms to monitor that pensioners are well looked after. If pensioner can't have enough to live on then they will become prisoners of their own difficult lives, not of their own making.

Q5. What proposition can we think about for our retirement and pension?

I think we can consider people who work at least 30 years in government service get to keep their last monthly pay as their monthly pension once they reach pensionable age at 60 years. This will mean people must start working in the government service before age 30 in order to be considered for this scheme.

Q6. Will this proposition be feasible?

I think so, yes. Prospective workers will quickly get into a government job and work hard for 30 years before they can be considered for full pay pension. It must be 30 continuous years of government service. Government servants will tend to be loyal because they can clearly see the reward at retirement.

Q7. Do you think people will like this proposition?

I think it is a great idea to be earning a full pay during retirement.

Q8. What about pension benefits for the spouse?

Spouse can get 40% pension benefits of the government pensioner. But the marriage must be accepted in Islam and cannot be a gay marriage or common law partnership.

Q9. What about pension benefits for children?

In today's family structure, couples get married very late in life, around age 30-35. Even if they get married earlier, they don't have children till much later in life, before age 40.

At age 40, many married couples will have at least a child under age 6 years (not schooling yet).

By age 50, many parents will have a child in primary school or continuing on to secondary school.

By age 60, many parents will have a child in high school or university. If a government servant dies at this age, the child is still a student and needs financial support. So the retirement plan and pension amount must take into consideration stipend for the child/student till he/she completes a first degree that probably will make the child stand a better chance of getting a job.

If the child cannot get a job in his/her 20's or 30's, then there must be a mechanism to assist the child somewhat that sort of gives a guarantee of food, shelter and safety of the government employee's children.

Q10. Is is a waste of government revenue to maintain government pensioners?

I don't think so.

Government employees are mass workers who work 8 hours daily for 5 days a week with limited annual leave (1 month) and sick leave. They don't have a second income if they are in the A division jobs, and for which they have nothing else to depend on in their retirement.

A good retirement plan and pension scheme will certainly make us happy.

Ask anyone who is nearing retirement and you will find that almost everyone who is already employed in the government work force, is really terribly worried about retirement and all issues pertaining to retirement.

Retire at 40-40+
When you reach 40, it is time to look back and look forward at issues of retirement. You have 10 years to think and adjust before you hit the next stage in your life. Life is not young anymore. You are not young anymore. The future comes too soon and you will be swept into the future even before you know it.

Retire at 50-50+
When you reach 50, it is time to not look back but to look forward to retirement and be prepared to study issues about retirement. You must find out and see what the issues are and be quite prepared anytime between age 50 and 59. We hear a lot about retirement age being mentioned at various times but nobody is certain why the retirement age keeps floating towards what I call old age.

Retire at 60
I'm not 60 yet so I can't comment. Remember that the previous retirement age for women went from 45 to 50 to 55 to 56 to 58 to 60. We now must retire at 60, ie when we are old ladies. We may look weird at age 60 and to be standing in front of class for lecture. By that time we are not Miss Universe but just an old witch.

What is the biggest issue about retirement?
People have kept their savings to buy reading materials when they are old and retired. Amount of pension that will be received is everybody's guess, worry and nightmare. If you think it is funny, think again. Would you be happy if you didn't know how much pension will be accrued when you retire? Numbers cause pensioners-to-be crazy. Pensioners cannot demand how much pension they will get. There is no safety about receiving pension.

Are pensioners happy with the pensions they get?
No and never. Is there such a thing as a happy pensioner? I've not heard nor seen one so far. Most pensioners seem happy even though they get very little at pension age (now 60 years old). I generally feel that they are happy but in their own way and away from friends.

Are we becoming a nation and statehood that relies heavily on foreign funds?
Yes = how many of you think this?
No = how many of you think this?