Rajiv Rishyakaran, State Assemblyman for Bukit Gasing, today offered his perspective on the ongoing national discussion regarding the mandatory retirement age in Malaysia, sparked by recent comments from Minister in the Prime Minister’s Department (Law and Institutional Reform) Azalina Othman Said and a subsequent response from Amanah Youth.
“The discourse surrounding Malaysia’s mandatory retirement age is of paramount importance, directly impacting our nation’s economic landscape, the well-being of our senior citizens, and the employment prospects of our younger generations,” stated Rajiv. “It is a multifaceted issue that demands a balanced and comprehensive approach, taking into account all existing mechanisms, global trends, and future needs.”
Rajiv acknowledged Minister Azalina’s viewpoint on the continued contributions of healthy and active senior citizens. “It is undeniable that many Malaysians above 60 possess invaluable experience and a desire to remain productive. Their continued engagement can certainly benefit our society.”
He further clarified the crucial flexibility already embedded within the current system: “It is important to remember that under the current framework, individuals already have the option to retire at the age of 55, and withdraw their Employees Provident Fund (EPF) savings at that point if they choose to do so. This flexibility already exists for those who wish to step away from full-time employment earlier and transition into a different phase of life.”
“Conversely, a gradual increase in the mandatory retirement age would serve to provide an invaluable option for those who desire to continue working beyond 60. This is about offering choice and preventing the automatic termination of employment for productive individuals when they hit 60, allowing them to remain active contributors to the economy and society,” Rajiv emphasized.
Addressing the concerns raised by Amanah Youth regarding youth unemployment and the challenges faced by young graduates, Rajiv stated: “Forcing senior citizens out of the workforce earlier is not the way to go about helping the youth improve their chances at employment”.
“Instead of viewing this as a zero-sum game, our focus should be on implementing various robust initiatives to better equip our youth for the evolving workforce. This includes enhancing skills training programs, fostering entrepreneurship assistance, promoting internships, and aligning educational outcomes with industry demands,” Rajiv highlighted. “Our aim should be to ensure that both our seniors remain active and engaged, and our youth are well-prepared to seize opportunities.”
He also underscored the broader global context: “It is noteworthy that slowly raising the retirement age is a phenomenon observed worldwide, as nations grapple with increasing life expectancy and changing demographics. This global trend should also be given due consideration in Malaysia’s policy discourse, allowing us to adapt thoughtfully to evolving societal needs.”