Kuala Lumpur, 24 February 2016 – The Collaboration Agreement Signing Ceremony was held today between Kenanga Investment Bank, Managedcare and Rockwills® Trustee for the launch of CareTRUST™
CareTRUST is a living trust where an individual can set money aside to ensure provision of continuum care that is financially sustainable in the event of failing health and or long term retirement care.
The aim of CareTRUST™ is to address the nation’s ageing demographics and to provide the public an effective solution for the administration of care. It embodies a shared vision among all three organisations to create an integrated framework that will spur a catalytic change in retirement and aged care that will elevate the industry to be on par with other regional countries.
Managedcare is the care administrator of CareTRUST™ and will be responsible to ensure the quality of care given to clients will be in sync with the client’s health needs and long-term care plan. CareTRUST™ shall be focusing on both the younger generation (GenY) as they need to plan from now for an effective retirement care plan as well the babyboomers who need such care plan now and the new future.
According to Carol Yip, CEO of Managedcare, “There is a void to fill in the Malaysian financial planning space for sustainable retirement care. We believe that through the introduction of CareTRUST™, complemented with it unique characteristics of integrating various care services, we will narrow the gap and provide the type of care Malaysians are looking for. CareTRUST™ aims to address issues such as longevity risk, medical inflation, insufficient savings and high cost of living. The possibility of needing long-term care is very real as we move towards an ageing society. This collaboration sets a strong foundation to assist individuals in attaining sustainable financial affordability to purchase an array of quality care services.”
“KenWealth” by Kenanga Investment Bank Berhad as one of the collaborating partner is committed to providing sustainable retirement investment solutions to all Malaysians. Ismitz Matthew De Alwis, CEO of Kenanga Investors Berhad mentioned that this collaboration marks a new milestone for the retirement and aged care industry to fulfil the need for an integrated financial and healthcare framework especially for the ageing population.
Rockwills Trustee is the independent trustee for CareTRUST™ and is given custodial rights to manage the funds. As a Trustee they will safeguard the client’s interests by monitoring and disseminating the monies for care according to their client’s instructions.
For further enquiries regarding CareTRUST™ you can visit www.managedcare.com.my or send an email to firstname.lastname@example.org.
Source: InfoMed, February 25, 2016