Examining the level of awareness on retirement planning among pre-retirees in Klang Valley / Muhammad Ammar Mohd Jallani

The Employees Provident Fund and Pension Schemes are the most massive provident fund scheme available in Malaysia, but currently, there are not sufficient in funding the retirees. Thus, Private Retirement Scheme (PRS) was introduced in 2012 with the objective to improve living standards for Malaysians at retirement through additional savings funds. The primary purpose of this exploratory study is to examine the level of awareness on retirement planning among pre-retirees in Klang Valley. Besides that is to know about the issues and the importance of retirement planning. This study applies the quantitative approach to the use of the survey questionnaire as the main instrument of data collection. A total of 100 respondents were selected for this study. Data collected were analysed using descriptive analysis, and frequency analysis. In general, findings in this study that most of the respondents already know about the issues and the importance of the retirement planning. But, they are still lacking choosing the best retirement planning a knowledge regarding the matters. Overall, this study gives some information on the issues, awareness and the importance of retirement planning among employees.