http://www.thestar.com.my/news/story.asp?file=/2005/4/1/sports/10571092&sec=sports I think it is RM3000 a month for life....this is great
Only for the gold medalist, which no Malaysian has ever won yet. Maybe the first gold will be from badminton too, apart from the silver and bronzes. However, silver medalists, Soon Kit and Kim Hock, will receive RM1,500 a month for life (assuming they live another 40 years, this will translate to RM720,000 in total) and the three Sidek brothers will each receive RM1,000. A pity that Misbun did not qualify. On top of the above monthly pension, the lump sum reward for the silver and bronze is RM80,000 and RM40,00 respectively. Of course, there will always be other incentives from well-wishers and advertising contracts. But this incentive scheme from the Malaysian Government is much more endearing.
What is the average wage in MAL? Are these figures good? Does it increase with inflation?(otherwise it may be pennies in a year or two) regardless it is a good Idea, and Certainly will give the players an incentive. I belive Korea have such a scheme already? Any idea if China/Denamrk/Indonesia does? I know these coutries have lump sums, but I would say a guaranteed income is better.
Not with inflation and what not... if a steady rate of 5% inflation each year, that RM3000 will be worth less than RM2000 currently in about 10 years or less...
I don't really know for sure whether the pension for bronze is above average earnings in Malaysia, but I think RM3,000 must be considered good. Maybe our Malaysian friends can confirm. But I do agree that annual inflation should be taken into account to maintain the value of the pension and to consider the rise in the cost of living.
Found a blog of some sort from 1998 saying the average wage then was about 500RM, so if that is true, then even taking account inflation and economic growth then 1000RM for bronze and 1500RM for silver is not bad.
RM500? I can't even live on that for a week Generally, if you are a fresh grad with a proper job, the starting wage is around RM1600 - RM2000 per month. A factory/general worker would be taking in around RM800 per month. However, people who do well in big companies get paid handsomely. A friend of mine who is head of IS security operations in Shell Cyberjaya rakes in about RM12000 a month...and he is only 29!!!
That was from 7 years ago. It still sounds like they wont be walking the streets, since they can always get a job as well!
The current average income for Msians is around RM1300 to RM2000. You can consider have a good income and slightly comfortable lifestyle ( if you are single ) when you earn around RM2500 to RM4000 monthly. It is a good deal for the EX Olympic Medalist for them for have RM3000 for life ( assuming if its for life ). Because based on my research , the average Pension fund for retirees can only sustain them for around 3 to 5 years only provided they dont have any other jobs or investments.
It is sad that monetary incentives have to be provided in order to motivate players to excel. During Wong Peng Soon's and Eddy Choong's time, it was for the love of the game. Well, we may say that times have changed..but with better incentives why are we not producing more Peng Soons, Eddy Choongs, Tan Aik Huangs and Ng Boon Bees? Maybe our players lack the hunger for success like the players of old.
