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PETALING JAYA: The largest civil servants union has rejected a suggestion that the retirement age for government employees be raised from 60 to 65.
Cuepacs president Adnan Mat said there was no urgent need for the government to raise the minimum retirement age.
He said the current retirement age had taken into account many factors, including giving the next generation the opportunity to revitalize the civil service system.
“Many workers aged 60 and over face problems adjusting to rapid changes in the job market, as well as aging itself.
“Furthermore, the policy has already seen three amendments in the last 20 years alone,” he said in a statement, commenting on the World Bank’s suggestion.
The World Bank said the government should review policies on retirement age and raise the minimum retirement age to 65 in line with Malaysia’s average life span.
Adnan also revealed that Cuepacs had received many such suggestions from various parties, including the private sector.
“Despite being close to retirement, many older Malays are still trying to pay off their home loans. Some even have to pay until they reach 65, ”he said.
Many were also concerned about not having enough usable income after retirement.
However, he said, the underlying problem was not age, but wages, and that aging workers’ concerns are compounded by low-wage schemes.
“Low wages compromise your savings, regardless of government or EPF pensions.”
He said the government should raise the minimum wage to better mitigate this problem and also build more affordable housing for low-income populations.
