Malaysia Considers Raising Retirement Age to 65

Malaysia Mulls Raising Retirement Age: PM Anwar Ibrahim Calls for Careful Consideration Kuala Lumpur, Malaysia – In a recent press conference, Malaysian Prime Minister Datuk Seri Anwar Ibrahim addressed the ongoing debate surrounding a proposed increase in the mandatory retirement age from 60 to 65 years. The Prime Minister acknowledged the suggestion, stating that "it is a proposal that deserves attention and consideration." He stressed the need for a thorough review of the financial and employment implications before any decision is made. The proposal has sparked considerable discussion amongst various stakeholders, including economists, labor unions, and retirement planning organizations. Concerns have been raised about the potential impact on the national budget, the availability of jobs for younger generations, and the overall welfare of older Malaysians. A comprehensive study is expected to address these concerns and provide a clear picture of the potential benefits and drawbacks of extending the retirement age. Ibrahim's measured response indicates a cautious approach to the proposal, suggesting a commitment to a thorough and evidence-based decision-making process. The government's commitment to a comprehensive study before making a decision underscores a responsible approach to this important policy matter.