In today's climate, some don't have the luxury of retirement

The Star

6 hours ago

PETALING JAYA: Raising the retirement age to 65 will help seniors achieve greater financial stability.
Lee Peng Joo, 70, said he works as a part-time electrical chargeman in his free time due to high demand from his former acquaintances in the industry.
Needing to only do safety and operational checks on high-voltage electrical installations, Lee said the work is fairly simple and allows him to earn extra income without much hassle.
'I work under contract, so I typically only have to check an installation once a month, which normally takes less than half an hour at each site, and write an inspection report after that.
'It's technical work that keeps my mind fresh. It's not physically demanding so I don't have to worry about getting injured,' he said.
Lee would love to continue working until he is 75 years old.
A human resource executive who wanted to be known only as Johari said there is 'no choice but to work until I can't'.
'The cost of things isn't getting any cheaper, and I still have to get my youngest boy through university.
Business owner G. James, 67, who runs an accounting firm, said he decided to continue working to reduce dependence on his children, who are all working.
'For me, it's a personal preference.
'Although my wife and three children have persuaded me to let go of the business since we're already doing well, I don't want to trouble anyone by asking for money.
'By continuously working past 60, I can still earn for my wife and myself,' he said.
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'Every time there are proposals for the retirement age to be increased, I have no issue with it, but it must serve as a transition period for the younger up-and-coming talents.
'We won't be here forever and have to pass the torch one day,' he said.
In the busy streets of Kuala Lumpur, The Star met up with some retired seniors who have no other choice but to continue working to make ends meet.
One such retiree is a 71-year-old man, who only wanted to be known as M, who runs his own roadside stall in Pudu selling miscellaneous items.
M, who worked in a tailor shop before he retired over a decade ago, said he was forced to turn to running a small business as he needs money for daily expenses.
'I'm currently staying with my son who gives me pocket money once in a while, but it's not enough for my daily needs.
'I would rather earn my own income than depend solely on my son, to provide for me,' he said.
Items sold at M's store include reading glasses and sunglasses for RM15 each that he had bought from wholesalers who were clearing stock.
He also sells nail clippers and batteries for around RM5 each.
Conditions were not so good for another retiree aged 78, who only wanted to be known as Awa, as he struggled to earn money to cover his room rental and daily needs.
Awa, who is not married and has no kids, rents a small room in Pudu for RM200 a month.
He worked as a construction worker until he was forced to retire two decades ago, which led to his savings eventually drying up about five years ago.
He now covers his expenses by selling socks and phone cables at his roadside stall.
'My day usually begins early as I try to find a place to set up my stall beside a walkway by 8am and work until 3pm.
'I get the socks and cables from small convenience stores around the area, then resell them for a small margin that is just barely enough for my daily meals and rental costs,' he said.