As Malaysia grows older, PM says Putrajaya to review retirement age in 13MP
While tabling the plan in Parliament, Anwar said the government aims to increase the participation of older adults and minority groups in the labour market.
'The mandatory retirement age will also be reviewed to align with the transition to an ageing nation,' he said in his speech.
Malaysia last increased its retirement age in 2012, when it was raised to 60.
There have been recent proposals to raise this further to 65. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said previously suggested that such a move would better reflect current realities, such as increased life expectancy and better health outcomes.
However, the proposal has faced opposition from groups such as the Malaysian Youth Council, which has argued that the policy is not suitable for Malaysia's current labour market dynamics.
The proposal comes as Malaysia faces a rapidly ageing society. A projection released earlier this month by the Department of Statistics Malaysia showed the country's median age is expected to rise significantly, from 32.8 years in 2030 to 40.7 years in 2060.
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