Minister in the Prime Minister's Department, Datuk Seri Azalina Othman, has suggested that the government consider raising the mandatory retirement age from 60 to 65 years.
Azalina expressed her personal view through a Bernama broadcast that it is a loss when someone is required to retire at the age of 60, while they are still energetic, productive and able to continue contributing to the workforce.
She added that the government could perhaps look at ASEAN member countries that still allow individuals to serve until the age of 70, with some judges even being allowed to remain in office until the age of 65 or 70.
In Malaysia, mandatory retirement for civil servants is currently set at the age of 60. This is also the minimum retirement age for private sector workers under the Minimum Retirement Age Act 2012.
Former Economic Advisor at the Ministry of Human Resources and the United Arab Emirates (UAE), Dr Mohd Yusof Saari said that currently some retirees are returning to the job market to earn an income.
According to Metro, he also sees a need to raise the retirement age, not only in the public sector but also in the private sector, because there are workers who are facing financial constraints.
Studies also show that some return to work after retirement due to insufficient savings.
He added that we cannot avoid considering measures to raise the retirement age since Malaysia is expected to enter the phase of an aging nation by 2035.
However, retirement at the age of 65 should not be mandatory for all workers, whether in the public or private sectors.
Those who have served until the age of 60 have experience and skills that are very valuable for national development.
Their expertise and experience are a privilege that is priceless with ringgit, and can contribute significantly to the progress of the country.
