00:00The mandatory age for retirement will be reviewed as Malaysia is heading towards becoming an aged nation, according to the 13th Malaysia Plan tabled by Prime Minister Anwar Ibrahim today.
00:13In May, Law and Institutional Reform Minister Azalina Othman Said proposed that the government study extending the retirement age to 65, saying many retiring employees remained active and capable well into their 60s.
00:27In 2014, Malaysia raised the retirement age to 60 for both the public and private sectors from 58 and 55, respectively.
00:36The move was aimed at providing financial support for the elderly while promoting healthy active aging.
00:42Anwar said then that a proposal to raise the mandatory retirement age required careful consideration.
00:48The statistics department previously said Malaysia would likely reach aged nation status sooner than expected, with over 17% of the population expected to be aged 60 or above in 2040.
01:01As of last year, this group made up 11.6% or 3.9 million of the total population of 34.1 million.
01:10As of last year, it was a federal government school of the public.
