KUALA LUMPUR: Youth and Sports Minister Syed Saddiq Syed Abdul Rahman is against the move to change the retirement age from 60 to 65.
He said the government should focus on creating quality job opportunities for the younger generation instead of blocking their potential.
Syed Saddiq said youths should be given as much opportunity as possible for job promotions and also ensure their job security is guaranteed.
“I oppose the proposal to increase the retirement age from 60 to 65 years.
“Comparing it with advanced nations is not accurate.
“Japan’s youth unemployment rate is 3.4 per cent, Singapore (5.9 per cent) and Germany ( 6.2 per cent).
“In Malaysia, some 500,000 young people are still unemployed or 10.7 per cent,” he said in a video recording posted on his Twitter account today.
Earlier today, Human Resources Minister M. Kulasegaran said the government would study the proposal to increase the retirement age from 60 to 65 as practiced in several developed countries, including Singapore.
He said the ministry would discuss the matter with the Finance Ministry before making a decision.
On Monday, the Malaysian Trades Union Congress (MTUC) urged the government to introduce a minimum monthly cost of living allowance (Cola) of RM500 for private sector employees and to change the mandatory retirement age to 65 in Budget 2020.