MoU with PPA to promote retirement planning

From left: Prof Ewe, Prof Chuah, Azryta Abdul Aziz, Husaini Hussin and Lim at the signing ceremony 

UTAR and Private Pension Administrator Malaysia (PPA) officially signed a memorandum of understanding (MoU) at Menara Mudajaya, Petaling Jaya on 3 September 2018.

Signing on behalf of UTAR was its President Ir Prof Academician Dato’ Dr Chuah Hean Teik witnessed by Vice President for Internationalisation and Academic Development Prof Ir Dr Ewe Hong Tat while PPA was represented by its CEO Husaini Hussin and witnessed by PPA Head of Marketing and Communication Serena Lim.

Also present at the signing ceremony were Securities Commision Malaysia General Manager of Markets and Products Azryta Abdul Aziz, Faculty of Accountancy and Management (FAM) Dean Dr Sia Bee Chuan, FAM Head of International Business Department Farah Waheeda binti Jalaludin, FAM Head of Accountancy Department T.K. K Shamini, FAM Head of Economics Department Sia Bik Kai, FAM lecturer Ung Leng Yean, Centre for Sustainable Development and Corporate Social Responsibility in Business Chairperson Dr Mohammad Falahat Nejadmahani, Division of Community and International Networking Director Assoc Prof Dr Lai Soon Onn, UTAR and PPA staff.

The MoU aimed to promote joint efforts in research collaboration pertaining to the areas of financial planning, unit trust investments and money scams. Apart from that, this MoU facilitates industrial placements for UTAR students, lecture series on financial planning and management, workshops and public lecture to increase the awareness of financial and retirement planning.

Husaini Hussin said, “It is important to empower Malaysians to take control of their retirement plans by encouraging them to build savings for their future. Through the signing of this MoU, we want to take it a step further by establishing strong working relationships with educational institutions such as UTAR to delve deeper into the subject of retirement planning. There is no such thing as being too young to start saving for your retirement. Start now, save regularly,” as he welcomed the guests.

He added, “Youths are encouraged to take up the Private Retirement Scheme (PRS) Youth Incentive, in which those aged between 20 to 30 who save a total of RM1,000 in PRS would receive a one-off RM1,000 in PRS units from the government. This one-off incentive is available until 31 December 2018.”

“I would also like to thank PPA for this MoU that leads to the establishment of a mutually collaborative partnership. The aging population has become one of the top ten challenges in the world, thus with the signing of this MoU, we will conduct research on topics related to finance to come up with the latest information and expose more students and the local community to PRS as we strive to raise awareness among Malaysians on the importance of retirement planning,” said Prof Chuah.

Souvenir exchange ceremony between Prof Chuah and Husaini Hussin took place, followed by a photography session before the event adjourned.

For past activity between UTAR and PPA, click here.

Prof Chuah (left) presenting the token of appreciation to Husaini Hussin

Husaini Hussin (right) presenting the souvenir to Prof Chuah