Proposal to raise retirement age needs comprehensive study, says PM
KUALA LUMPUR: The proposal to raise the mandatory retirement age from 60 to 65 is one of the issues that needs to be given attention and consideration, but must first be studied comprehensively, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, also the Minister of Finance, said that before any decision is taken, the proposal ought to be discussed at the ministerial level first and then presented to the Cabinet Ministers.
'We have not brought it up to the Cabinet. Let them study its implications, such as finance, new job opportunities and so on.
'Let them review it because this is a proposal that ought to be given attention and considered,' he told reporters after officiating the launch of the 'Hadiah Bahasa Public Bank-Dewan Bahasa dan Pustaka (DBP)' ceremony here today.
Also present at the launch were Deputy Education Minister Wong Kah Woh, DBP Board of Governors chairman Datuk Dr Anwar Ridhwan and Public Bank Berhad deputy chief executive officer Datuk Sulaiman Abdul Manap.
Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said had previously proposed that the government consider raising the mandatory retirement age from 60 to 65.
Azalina, who suggested this in her personal capacity, said it would be a loss when individuals are made to retire at the age of 60 when they are still energetic, productive and capable of contributing to the workforce.
In Malaysia, the mandatory retirement age for government employees is currently set at 60. This is also the minimum retirement age for private sector employees under the Minimum Retirement Age Act 2012.
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