The Application of Planning for Retirement in Malaysia

This is a conceptual paper to review the needs of planning for retirement on people especially in the organization as benefits to employees. The paper aims to analyse a model of general planning by Friedman and Scholnick (1997). Planning for retirement has been one of the most discussed agenda in organization today. Unfortunately, most of the discussion is looking at financial matters only. In understanding retirement, employees will be exposed not only to one domain in retirement but various domains that will help employees play their significant roles in planning for retirement. The model were analysed and discussed throughout the paper in the context of the need of planning for retirement. The paper attempts to focus on the concept of planning that might help to bring awareness to the employees and whether the issue of “do planning for retirement makes people worry” appears to be involved in planning for retirement. This will bring significant influence in the organization to help generate benefits to the employees. Conclusions from the literature are drawn stated that planning for retirement plays a key role in how knowledge and information in retirement should be taken into consideration. The paper ends with recommendations of few factors that need to be considered for future investigations. Keywords: Planning for Retirement, General Planning Model, Retirement Domains