No plans to raise retirement age above 60, says minister

No plans to raise retirement age above 60, says minister

Federal territories minister Dr Zaliha Mustafa says, however, the government is open to conducting a detailed study on the matter should the need arise.

Civil servants appointed before Jan 1, 2012 may retire at the age of 55, 56, 58 or 60, but those appointed after that date are subject to mandatory retirement at 60. (Bernama pic)
PETALING JAYA:
The government has no plans to raise the retirement age for civil servants, says federal territories minister Dr Zaliha Mustafa.

Zaliha said civil servants appointed before Jan 1, 2012 were given the option of retiring at the age of 55, 56, 58 or 60.

However, public servants appointed after Jan 1, 2012, are subject to a mandatory retirement age of 60.

“At present, the government has no plans to increase the retirement age for civil servants.

“However, the government is open to conducting a detailed study to raise the retirement age should the need arise,” she said in a written parliamentary reply.

She was responding to Tan Kok Wai (PH-Cheras) who asked whether Putrajaya had plans to raise the retirement age and if the matter has been studied.

In June, Retirement Fund Incorporated (KWAP) CEO Nik Amlizan Mohamed was quoted as saying that Malaysia should re-evaluate the retirement age in light of rising life expectancy.

She stressed the need to revisit pension plans and social security systems to ensure retirees can support themselves throughout a longer retirement period.

Ahmad Badri Zahir, then EPF chairman, was reported to have said the demographic shift of rising life expectancy poses a significant challenge to the country.

He said that while the average life expectancy of Malaysians has risen to 75 years, healthy life expectancy remains relatively unchanged at 65.7 years.

This highlights the need for more comprehensive care and resources for the country’s ageing population and to promote healthy ageing, he said.

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