By: Mike Paul
Kuala Lumpur, Nov 9 — As Malaysia faces demographic shifts toward an ageing population, experts are urging rational and data-driven evaluation of proposals to raise the retirement age and EPF withdrawal access to between 65 and 70.
Dr Nurul Aishah Khairuddin, senior lecturer at Universiti Malaya, emphasized that any reform must balance fiscal sustainability with human dignity. “A good policy does not merely protect numbers in economic reports, but must reflect human values,” she said.
The proposal, based on a recent global pension report, suggests aligning Malaysia’s retirement framework with international standards. With 15% of citizens expected to be over 60 by 2030, the current EPF withdrawal age of 55 is seen as outdated.
However, concerns remain over low EPF savings, especially among informal workers. Experts warn that without broader social protection and financial literacy, raising the retirement age could worsen inequality.
Policymakers are expected to consider phased implementation, protect current recipients, and communicate changes clearly to maintain public trust.
- TNS News