Publication:
Assessing the adequacy of contribution rates towards employees' provident fund in Malaysia

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dc.Conferencecode127506
dc.Conferencedate15 November 2016 through 17 November 2016
dc.Conferencename4th International Conference on Mathematical Sciences - Mathematical Sciences: Championing the Way in a Problem Based and Data Driven Society, ICMS 2016
dc.citedby1
dc.contributor.affiliationsFaculty of Economics and Muamalat
dc.contributor.affiliationsFaculty of Science and Technology
dc.contributor.affiliationsUniversiti Sains Islam Malaysia (USIM)
dc.contributor.authorSaidi N.A.N.en_US
dc.contributor.authorYusuf M.M.en_US
dc.contributor.authorBasah M.Y.A.en_US
dc.date.accessioned2024-05-28T08:24:24Z
dc.date.available2024-05-28T08:24:24Z
dc.date.issued2017
dc.description.abstractThe vital role of Malaysian Employees' Provident Fund (EPF) is to provide financial support for its participants during retirement years. However, the issues of inadequacy have risen and EPF has been through various improvements in order to cope with current living situations, including making adjustment in the contribution rates. This study intends to provide the projection of EPF accumulations for three different types of contribution rates namely contribution rates at current fixed rate, increasing and decreasing proportion. Then, the replacement ratio is calculated and is used as an indicator to determine the adequacy of retirement income delivered by EPF. The ideal replacement ratio recommended by financial advisors is at 70%. Based on the findings in this study, contribution rates following a decreasing proportion gives replacement ratio that exceeds or nearest to the ideal replacement ratio, while contribution rates at current fixed rate gives replacement rates that fall far from 70%. Therefore, this study shows that the accumulated amount in the fund with contribution rates following a decreasing proportion gives higher replacement ratio and is recommended to be applied by the Malaysian EPF. � 2017 Author(s).
dc.description.natureFinalen_US
dc.editorDzul-Kifli S.C.Zamzuri Z.H.Razak F.A.Zin W.Z.W.en_US
dc.identifier.ArtNo40006
dc.identifier.doi10.1063/1.4980934
dc.identifier.isbn9780740000000
dc.identifier.issn0094243X
dc.identifier.scopus2-s2.0-85019467660
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85019467660&doi=10.1063%2f1.4980934&partnerID=40&md5=0b585de72ca1f372aa81aca9fa388fa8
dc.identifier.urihttps://oarep.usim.edu.my/handle/123456789/8468
dc.identifier.volume1830
dc.languageEnglish
dc.language.isoen_USen_US
dc.publisherAmerican Institute of Physics Inc.en_US
dc.relation.ispartofAIP Conference Proceedings
dc.sourceScopus
dc.titleAssessing the adequacy of contribution rates towards employees' provident fund in Malaysiaen_US
dc.typeArticleen_US
dspace.entity.typePublication

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