UTAR and Great Eastern embark on nationwide study
to advance retirement preparedness in Malaysia

UTAR formalised a strategic academic–industry collaboration with Great Eastern Life Assurance (Malaysia) Berhad (GELM) through the signing of a memorandum of agreement (MoA) on 24 February 2026 at Menara Great Eastern.

The MoA was signed by UTAR President Ir Prof Dato’ Dr Ewe Hong Tat and GELM Chief Executive Officer Dato’ Koh Yaw Hui, and was witnessed by senior representatives from both organisations.

Under the collaboration, UTAR and GELM will jointly undertake a nationwide survey-based research project focusing on retirement readiness, planning behaviours and financial concerns among Malaysians aged 40 and above. The study, to be conducted over four months from March to June 2026, is expected to engage 5,000 working Malaysians across urban and rural areas in all 13 states and three federal territories.

The survey will be conducted in English, Bahasa Malaysia and Mandarin, and will collect data on key dimensions of retirement planning, including financial preparedness and savings adequacy, preferences for professional financial advice, risk appetite in retirement-related investment decisions, as well as non-financial concerns such as health, family dependence and social well-being.

By integrating academic rigour with industry insights, the research aims to generate meaningful, evidence-based findings that will enrich public understanding, inform policy discourse and strengthen financial literacy on retirement preparedness in Malaysia.

The MoA also establishes a framework for knowledge transfer through faculty–industry engagement, including research dialogues, technical exchanges, seminars, conferences and related scholarly activities. In addition, GELM has awarded a research grant to a team of seven academics from UTAR’s Teh Hong Piow Faculty of Business and Finance to support the implementation of the project, effective from February 2026.

Prof Dato’ Ewe said, “At UTAR, we believe universities must serve not only as centres of learning but also as contributors to national development. As Malaysia transitions into an ageing society, retirement adequacy and financial preparedness have become national priorities. Through our collaboration with Great Eastern, we bring together academic rigour and industry expertise. This partnership enables us to address real societal challenges. Together, we aim to generate meaningful, evidence-based insights that strengthen Malaysia’s retirement planning landscape.”

“As a life insurer with 118 years of heritage in Malaysia, we are proud to support initiatives that empower people to plan for a better financial future. Through this nationwide survey, we hope to uncover actionable insights that will enable us to design retirement solutions that are relevant, inclusive and impactful for the communities we serve,” said Dato’ Koh.

Findings from the study are expected to be published in late 2026 and will support ongoing efforts to enhance financial education, guide product development and contribute to improved retirement outcomes for Malaysians.