In a significant move to bolster pension saving awareness among young working adults in East Malaysia, University Malaysia Sabah (UMS) has signed a Research Collaboration Agreement with Private Pension Administrator Malaysia (PPA).
The signing ceremonial took place at UMS recently.
The Research Collaboration Agreement was signed by UMS Vice Chancellor, Prof. Datuk Dr. Kasim Hj. Mansor, and PPA Chief Executive Officer, Husaini Hussin, in the presence of witnesses Luqman Ridha Anwar, UMS Registrar, and PPA Marketing Manager, Wong Mew Sum.
The partnership will see both institutions embark on a one-year research project titled "Enhancing Pension Saving Awareness and Intention Among Young Working Adults in East Malaysia”.
The research aims to assess current levels of pension saving awareness, identify influencing factors, and develop strategies to improve pension saving intentions.
East Malaysia's unique demographic and economic landscape provides an intriguing framework for this study, which is critical in ensuring financial security for the community in their later years.
Earlier, Kasim in his speech said, the collaboration marks a milestone in UMS ongoing efforts to contribute to society through research that addresses real-world issues.
“Today, we are focusing on the need to plan for one of the most important periods of our lives: retirement, and the necessity to plan for it through adequate pension provision.
“The task we have to perform is important, because our younger generations will be the backbone of tomorrow's economy, but many of them start their careers without knowing how to save for retirement,” he said.
Meanwhile, Husaini in his speech congratulate UMS for the commitment in uncovering insights to increase awareness and to empower the young working adults to be better prepared financially to secure their future.
Also present Deputy Vice Chancellor (Student Affairs and Alumni) Assoc Prof. Dr. Raman Noordin; UMS Chief Librarian, Md. Sazali Md. Salleh; and the Dean of Faculty of Computing and Informatics, Assoc. Prof. Ts. Dr. Mohd Hanafi Ahmad Hijazi.
