Professor Datuk Norma Mansor, director of the Universiti Malaya Social Wellbeing Research Centre, said that raising the retirement age is necessary due to the precarious financial state of older Malaysians.
SWRC's data shows a large percentage of Malaysians above 60 are still working, mainly informally, because they lack sufficient retirement savings. She also highlighted alarming Employees Provident Fund (EPF) data where 6.3 million contributors under 55 have less than RM10,000. To mitigate disruption, she recommends a gradual increase in the retirement age, perhaps to 62 initially. Ultimately, she believes an intergenerational workforce is beneficial, as senior employees bring invaluable knowledge and expertise that complements younger staff.
Read the full article here: https://www.malaymail.com/news/malaysia/2025/11/03/working-until-65-a-financial-lifeline-for-older-malaysians-or-a-broken-ladder-for-the-young/195726