In the world of employment, retirement marks the beginning of a new chapter in life—one not defined by deadlines or job titles, but by freedom, purpose, and personal fulfilment. However, the idea of whether one can sustain themselves financially during the post-career phase remains a longstanding concern for many career-driven individuals who have spent decades building their professional lives.
This question was addressed during the “Retire in Style!” programme, jointly organised by the UTAR Division of Human Resource (DHR) and Public Bank Berhad (PBB) on 24 July 2025 at UTAR Kampar Campus.
The programme was a financial awareness initiative aimed exclusively at UTAR staff, designed to equip employees with the knowledge and tools needed to plan effectively for retirement.
It featured a retirement planning talk by Public Mutual Bhd (PMB) Senior Executive of Institutional Sales & Financial Planning Department Mr Lye Jee Vern. In addition, PBB offered a range of financial services at their mobile counters, including financial consultations, retirement planning advice, registration for the PBB Private Retirement Scheme (PRS), and credit card applications.
UTAR staff consulting with professionals from PBB at the mobile counters
During the retirement planning talk, Mr Lye posed a key question to the audience, “Do you think you have enough money to retire?” He then guided participants through the process of calculating retirement funds based on monthly savings. Citing a report by the Employees’ Provident Fund (EPF), Mr Lye stated that more than 50% of EPF members under the age of 55 have savings of less than RM10,000, reflecting the serious lack of retirement funds among Malaysians.
Mr Lye explaining the structure of PRS to participants
“Our retirement funds may not be enough for us. Let’s say, you retire at 55 years old, your retirement funds can sustain you around 25 years. What if you live past your speculated age, then your funds will no longer be enough. We never know,” Mr Lye remarked. With that, he encouraged participants to save more funds monthly and invest in their future plans.
In addition to conventional investments such as stocks and bonds, he introduced PRS, a voluntary investment scheme by PBB. He elaborated on various aspects of the scheme, including its benefits, account structures, retirement withdrawal, return rates, and investment options.
The University extends its sincere appreciation to Public Bank Berhad for their invaluable sharing of financial expertise with the UTAR community. Through initiatives such as this, individuals are empowered to take proactive steps in managing their finances, gain deeper insights into retirement planning, and ultimately retire in style through their own financial savviness.
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