Malaysians generally are not saving enough, says Hwang Investment Management Bhd (HwangIM)

Its Chief Product Officer Steve Lim said Malaysians need to save more and one way is through investing in a long-term, low-cost, simple and sustainable private retirement schemes (PRS) to help prepare for their eventual retirement.

He was speaking at a roundtable with the focus on sharing PRS’ best practices from Australia, Chile and the Netherlands organised by HwangIM, one of Malaysia’s leading investment management houses.

HwangIM said the objective of the roundtable was to create awareness among Malaysians on how different countries around the world have successfully implemented various public and private retirement schemes.

It said the lessons learned and how the successful take-up of these schemes has benefited their countries.