Not the time to raise retirement age

LETTERS: THERE is a lot of talk about increasing the retirement age.

Over the past 20 years, there have been three changes made to the retirement age, starting in 2001 with the one for civil servants being extended from 55 to 56.

This was extended to 58 in 2008.

In 2012, the retirement age was extended from 58 to 60.

The minimum retirement age for employees is regulated by the Minimum Retirement Age Act 2012 [Act 753], which came into force in 2013.

Employers cannot prematurely retire employees before the employees attain the age of 60.

To raise the retirement age limit, any study should look at how much this move would affect workers and society.

For some, it is understandable why the proposal was made.

The economic situation has affected retirees and their pension.

The increase in life expectancy had also contributed to the above proposal.

A study has been done to assess the pros and cons of steps taken by countries that increased their retirement age limit.

France, for example, has increased its retirement age limit from 62 to 64 years.

However, the move triggered massive demonstrations.

Any plan to extend the retirement age limit in our country should be scrutinised.

Another reason is the health factor. As our age increases, our energy and health also deteriorate, and this will affect our performance.

Raising the retirement age limit will reduce the opportunity for the younger generation to get jobs.

And the inability to get employment will make many smart young people become more frustrated and demoralised, and some might migrate to other countries.

Because of this, our country will start to rely on foreign workers and senior citizens.

So it might not be wise to raise the retirement age limit now.

Our country needs young people with fresh minds and vigour to take the country to a higher level.


Associate professor,

Faculty of Syariah & Laws,

Universiti Sains Islam Malaysia

The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times

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