Over 200 pensioners gathered together to re-shape mindset in approaching retirement
KUALA LUMPUR, 3 July 2019 – Kumpulan Wang Persaraan (Diperbadankan) [KWAP], recently organised its very first Bengkel Pesara Aktif Berkerjaya in Cyberjaya. The workshop is part of the pension fund’s initiative to facilitate pensioners who are keen to rejoin the workforce as Malaysia makes its way towards becoming an ageing nation.
Following the publication of KWAP’s MyAgeing Report on retirement preparedness and productive ageing last year, findings from the research showed that there is a potential for present and future government retirees to be harnessed as economic resources even after exiting the public sector. Seizing the challenge, KWAP introduced the Bengkel Pesara Aktif Berkerjaya with the objective of assisting public pensioners and corporations alike in exploring and promoting reemployment opportunities respectively. This is with the hope to assist pensioners who are in need of additional income to sustain their living costs or those who simply wants to contribute back to the society given the skills and experience that they have.
As part of the pension fund’s ongoing initiative in responding to the implications arising from an ageing population, this workshop is a concerted effort following the launch of the enhanced version of KWAP’s MyPesara mobile application last November. Through the introduction of the MyPesara app and Bengkel Pesara Aktif Berkerjaya, KWAP continues its dedication in reinventing the retirement experience by providing a suit of services through a digital platform as well as face-to-face and reallife assistance.
“The global phenomenon of an ageing society may serve as a double-edged sword. We can view it as a celebration of our country’s good healthcare accessibility whereas on the other hand, it may pose as a challenge to the government and the economy,” said Syed Hamadah Syed Othman, Chief Executive Officer of KWAP.
“Aligned with the government’s Budget 2019 formulated for the ageing society, we urge the pensioners to view this as a business opportunity instead. With the right experts and tools provided through this workshop, the pensioners are given the opportunity to monetise their time, enabling them to achieve a more financially sustainable and productive life. Furthermore, this will provide corporations the opportunity to tap into a wider range of resources – which hopefully will include more pensioners in the future.”
Through the Budget 2019, the government provided a policy which caters for the senior citizens as a solution to ease the transition of retirees returning to the workforce. The policy which was announced during the tabling of the budget states that tax incentives will be given to companies that hire senior citizens with a salary limit of RM4,000 a month. This policy serves as an effort to encourage the hiring of those above the age of 60 who want to work and dispel age discrimination.
“Malaysia’s life expectancy is estimated at 75 years old – that is an average of 15 years to live after the age of retirement. Lifetime savings and pensions may not be enough to sustain pensioners throughout the rest of their lives. There needs to be a proper avenue that will assist them in finding the right job which is fitting with their previous experience, capabilities, as well as interests to ensure that they are well sustained. Through this workshop, we are proud to bring together a group of prominent partners and organisations to provide such avenue for pensioners,” said Syed Hamadah.
In collaboration with the Public Services Department of Malaysia (JPA), the workshop also gained support from Hire.Seniors, a post retirement job specialist and featured prominent corporates such as Mydin and MDEC as well as social enterprise, Biji-Biji Initiative. The workshop successfully gathered over 200 participants which consisted of 134 Malaysian public sector retirees and 75 future pensioners. Over 100 of the participants registered with Hire.Seniors after the workshop ended to receive job alerts, further showcasing their interest in joining the workforce once again.
Future retiree and lecturer at the Institute of Teacher Education (IPG) Tahir Nurudin, 59, was among a pool of future pensioners who turned up for the workshop. “The workshop serves as a good opportunity for people like myself to acquire insightful learnings that will assist me in planning ahead for my retirement. Moving forward, I also believe that it will be a good idea for this workshop to continue on for the benefit of other future retirees as well,” he said.
Participants in the workshop were given the opportunity to explore the available job opportunities in various fields and were given helpful tips and coaching on resume writing, interview requirements and application process.
The workshop also emphasises the pension fund’s commitment to support and assist pensioners at every stage of their lives. KWAP began with the introduction of MyPesara mobile app and the MyPesara Benefits Programme. It was followed through with the introduction of Karnival Rasa Sayang, which was a drive to promote retirement preparedness and active ageing in Malaysia. The event had successfully gathered an impressive number of almost 2,000 attendees. Moving forward, KWAP plans to bring forward more actionable programmes such as the carnival and workshop, given the good response it has received and will strive to benefit both future and present pensioners alike.
Over 200 participants attended the Bengkel Aktif Pesara Berkerjaya event. Participants were given the opportunity to explore the available job opportunities in various fields and were given helpful tips and coaching on resume writing, interview requirements and application process.
Hire.Seniors: Hire.Seniors Co-Founder Sharmila Sinnathurai, encouraging participants to join the workforce again in order to maintain a healthy mental and physical lifestyle.
About Kumpulan Wang Persaraan (Diperbadankan)
Kumpulan Wang Persaraan (Diperbadankan) [KWAP] or the Retirement Fund (Incorporated) was established on 1st March 2007 under the Retirement Fund Act 2007 (Act 662) replacing the repealed Pensions Trust Fund Act 1991 (Act 454).
KWAP manages contributions from the federal government and relevant agencies made into the Retirement Fund [Fund] to obtain optimum returns on its investments through sound management and investment of the Fund in equity, fixed income securities, money market instruments, and other forms of investments as permitted under the Retirement Fund Act 2007 (Act 662). The Fund shall be applied towards assisting the Federal Government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the Federal Government for the purpose of pension payment, gratuity, or other benefits granted under any written law from the Consolidated Fund as agreed between the Federal Government and KWAP.