Malaysia. Tweak pension fund to benefit low- income workers

In our published paper nearly a decade ago, we wrote that “... scant attention is given to the plight of low-income workers in a situation of rising inequality caused by widening pay-gaps or differences in actual wages”, and “low average savings balances raise the question of retirement adequacy at desired income replacement rates” (Hamid and Chai, 2013). We stated that, “Since either expanding the accumulation phase or setting a minimum sum balance would result in unpopular delayed pay-outs, other solutions must...