Other countries OK je
Are M’sians so lazy and scare of competition with seniors?

We are not known to be competitive in work, in case u taktau...

This post has been edited by vassilius: Jun 4 2025, 01:44 PM

higher official retirement age is less relevant to private staff as they can still retire early if they wanted to.

It's civil servants that are more affected, if they don't work until the set retirement age, they may get lower entitlement to their govt pension scheme.

Lagi ask soalan susah

Muslim majority country
Muslim wanna enough time to repent and
spend time with loved ones before they die
you can't transfer money and career in afterlife
only deeds, sins and memories

https://www.theguardian.com/world/2025/apr/...ension-age-rise

Ini baru satu. Not only Malaysia.

They against that increase full withdrawal age in EPF and welfare benefits...owai

Edit : Additional info

This post has been edited by PathofLife: Jun 4 2025, 01:53 PM

well you are denying youngster their employment post and their career growth because the oldfag still holding down the decision maker post. also productivity out of windows because this oldfag dont have energy to work for long and need to go for their routine treatment (e.g dialysis, physiotherapy, wound cleaning) due to their chronic illness.

don't want work till mampus at work place like boomers

65 baru dpt duit kwsp 100k... tak syok la...

its a matter of not willing to let pension money withheld by government for longer.

Good to increase, now got purple tong u pundeks think your epf cukup to eat ah even die oso no money

Think gov staff now mostly epf ma

I am not against. But at least 60-65 years old should be allowed max of 25 hours of working per week.

They got to give chance to next generation and enjoy the life la.. At age 60 nearly half step into coffin d

i am pretty sure you will be more than glad to have a 70 years old surgeon to operate on you with his steady hands...

Retirement tak senang

From the previous thread, it seems like lot of ktards under the impression that you are forced to work until retirement, cannot decide to retire before 65.

Maybe 60-65 only work 2 days per week with 1/3 salary IF they choose to stay?

it will be relevant if they update the epf withdrawal age with the new retirement age dik

i kinda more concern if this age affect the epf withdrawal or just purely working age,
as a SG fren once said, gov keep pushing the age to withdraw retirement fund, even u
have millions in epf, dunno u got the life to use it or not.

Malaysians are just lazy. many people want early retirement at age 40-50.

this is the core reason. singapore is a very good model of how longer retirement age will look like.

why work so hard in life?
what are you trying to achieve in cooperate?

by that ages should have kids and offsprings edi.

Govt pension is sedap. Work 40yrs guaranteed increment and promotions, retire and and live another 25-30 yrs get half celery and can pass on to spouse and children after passing. Damn sedap.

1. gov paying less pension.
2. gov can tax more coz you work longer.

win-win for gov.

old fags sampai masa, sudah kaya, plox die far far

a lot of orangina cannot tahan work over 55.

most retire early

retirement plan = many children grow adulthood

I personally have “millions” in epf for sometime already, and have been using it as a high yield easily accessible account.

It’s a non-issue to me at all as i can withdraw freely anyway even before the retirement age. It’s also a non issue to all my similar acquaintances - those with already millions in EPF knows it’s a damn good investment portfolio to diversify into, while those who can’t even break out from the EPF threshold instead will be the ones to bash epf, be the loudest and says how they’re a “master” investor and making more money elsewhere, while can’t even meet the mere epf limit for withdrawals lol

Instead you should be worried for those that almost reach million but never gets there as the goalpost will be constantly moved.

3 things:
1. Thought will get free money when retired, thats why as early as possible
2. Thought KWSP regardless amount is enough for rest of life no matter 10 years,20years or 30 years. Bad in math.
3. Asalkan syukur.

Big IF...... anyone who wanna risk losing GE can opt for the big IF dik

If no kids to take care and house already paid. Why still need to work? Ayam 47 already planning for retirement. Don't ask me to work till 65. Unless only need to work 3 days a week and no deadline.

pretty much ask pensioners to fly kite. gov will help spend ur pension. lol.

Not Malaysian in general, but rather workers of public sector with pencen.

Private sector? You can retire anytime you wish as long as you think you already have enough in your EPF.

If can retire earlier with lots of cash, better. Can enjoy other aspects of life rather than going to work. Retire age 60, maybe lots of cash, but no energy or no longer healthy to enjoy remaining years.

They withdraw epf money for vios and iPhone, so no money left.😅 work till 65 also not enough.

It’s more like you can’t withdraw epf before 65.

Gomen can set whatever retirement age they want as long as they don’t hoard our money.

The only one who want to raise retirement age is politician, so they can continue to songlap...

I already wanted to retire at 45 . Why so dumb work for your entire life , most of the people wont live past 65 nowadays . life != work

Angmoh work cuz no kopitiam to lepak everything close after 6pm

That’s how the poor remain poor, with such shortsighted mindset and lazy attitude in expecting “guaranteed” increment. With no risk, naturally you’ll get extremely low returns too.

Let’s use your example of 40yrs drawing working salary, but instead said worker is in private sector, contributing to EPF:

Starting with rm0 in epf, and assuming ZERO increase to EPF contributions for the full 40 years, at the end of year 40, said private sector worker will have RM2,458,902.05 as a lump sum available to him with 5%~ epf rate.

Let me repeat that again, a person who contributes just 1500 for 40 years, with NO increase towards that mere 1500 monthly (inclusive of the employer contribution, means your payslip deduction is lesser than 1500), will have around 2.5mil as his retirement “gift”.

With 2.5million in capital, it freely generates rm125,000 annually in interest @5% returns, which equates to a little bit more than 10k income per month for that said private sector retiree.

On top of that 10k per month income, don’t forget he still holds onto 2.5million as his investment capital, a money that will guarantee generational wealth even after you die.

Moral of the story is, dont be stupid, govt pencen is not the point of working for the government, it’s the “supplemental”, “extra-mile”, “close-1-eye”, “contract&procument” fees that you earn through your 40years is the main selling point, not some bodo pencen, which only draws 50%? 60% out of whatever low ammount of gov workers base salary scale lah

politician can work until they day the die

I'm ok with senile old ppl working. But how menurunkan kuasa is coin in 1st place.

Not not taking the responsibility, unclear order, go meeting and seminar and go back office just handle PowerPoint presentation and ask all staff do it . Oh! I should using bold, UPPERCASE and humongous Font. Like their belly.

because legally retirement age is just a number....there are no rules or laws that say u have to retire at the age of 55

realistically raising retirement age means raising the age where you can touch your EPF

Need retire early, coz gov boleh bagi tongkat in few different ways.
Rakyat sokong, keep voting politikus yang bagi tongkat, and fxck the future gen.

After 65, retired for what? Most may drop dead the very next day.

All becoming company slaves. Now, young people fighting back by not getting married and have kids.

Up the retirement age to 65 but allow full EPF withdrawal by 60. Kan senang.

A lot of countries in the list quoted by TS eg Netherlands you get full pension only upon working till the required age eg 67.

Private sector also pension by govt. 🤔

This post has been edited by dogbert_chew: Jun 4 2025, 03:28 PM

sad case is after retire, you don't know what to do. Ho hobby, friends are all from work. Just site home wait for the day to come.

Yeah. I have one colleague in Turkey decided to retire at 40 yo to get that pension. A very pitiful amount
Then she slowly go find new job

Their retirement age law is subject to the day they start working

This post has been edited by knwong: Jun 4 2025, 03:32 PM

the problem is some old people are somewhat senile and cant make logical decisions anymore
this will create trouble in the workplace

This post has been edited by bigmac999: Jun 4 2025, 03:43 PM

cause work is for cow

The Older-Worker Productivity Drain Is (Mostly) a Myth: Study

https://www.thinkadvisor.com/2023/11/27/the...y-a-myth-study/

You make good points, but all my confident in the system has been broken last few years. We all know it as much as we wan to believe the opposite.

Also there is no guarantee that ppl can remain employed in private all the way to 60. Most will be laid off many2 years before that so no more contribution. Any work they can fine maybe pay minimum wage at most unless they take out capital to do own business. Job for life is very lesser now.

For gov pencen, plenty of lifetime servants who keep head down and retired at 60, monthly draw around 7k+ not bad what. These days can live another 25 yrs. Then pass to spouse and children some more + other benefits for serving nation. If it is kacang putih as u imply they wouldn't have pushing civil servants to epf system because too expensive

.
Fyi, 34 countries provide social pension to the elderly/retirees that is funded by tax money. In USA, their Social Security Fund for retirees is being used or borrowed by the US government for its annual budget. In Malaysia, the government also borrows from the EPF for its annual budget, besides providing social pension to retired civil servants. Similarly for other countries borrowing from the pension funds for their annual budgets.

So, there is motivation for the governments in the world to extend the retirement age to about 65-75 yo = pension fund or social pension withdrawal age also extended, so that the govts could borrow more from the pension funds or spend less tax money for social pensions. .......

https://en.wikipedia.org/wiki/Pension

https://en.wikipedia.org/wiki/Social_pension

https://en.wikipedia.org/wiki/Social_Securi...(United_States)
.

many people confuse about government workers getting epf

the government workers getting epf are the new ones getting hired starting last year

the current government workers are still pension

What gov role can get 7k+ monthly pencen? Most I know are way below that
7k+ pencen is drawing like >20k month previously...

Well yes, you can’t argue that government job security is one of the greatest peace of mind someone could have. Any other MNC job will just layoff staffs in the guise of “re-org” ie. Legally firing you.

However i strongly believe the govt move to push civil servants for epf is because epf business nature: investments is a great hedge againts inflation and has a proven track record of consistent profit, and the more capital epf has to work with, the more net profit they will get. Some split of their investors (ie.epf contributers), while the rest is plain profit for the epf organization.

It takes money to make serious money. Ie. If someone is holding onto 250k capital, it would take them 25~years to reach their first 1mil (assuming 5%~ rate again), while it takes the same person, just another 13years, to make their 2nd million, and it just snowballs greatly from there onwards.

My point is, the EPF organization undeniably is generating profit for the country, and the more ringgits they have, the more return in absolute ringgit value (not %s), that they will have. And how to load up the the EPF organization with even more capital? Forced contributions for all goverment servants. It is to benefit the EPF organization & govermental body first, and not the “rakyat”. I know from insiders info that there are multiple years that EPF’s profit rate was in the 12%~, while the investors are only getting 5% out of it. Heck even s&p500 is averaging 10% but with risks lah, so most ppl still ok or uneducated to let EPF fly with it.

There’s so many nuances you could argue from both side that it’s impractical to talk about in a forum format. Ie. Super stress free whole life, retirement no need think, special healthcare/room benefit for retiree, etc, but like i said earlier, if completely low risk, don’t expect great returns.

Yeah I'm against 65 retirement age because I don't want to have any retirement age. I want to work continuously.

All, remember u can retire anytime u want. U can retire before 60.

For those who think about getting rid of older staff so that they can rise up to higher positions, no it wont happen. If u r confident of ur own capability, enjoy ur work, u wont think like that

How much Msia gomen borrow from EPF? Got pay back?

Yea, i personally know one retiree whos some sort of state representative for whatever the heck, is drawing close to 5k only for pencen.

And he’s not your average govermental servant ya.. he has drivers, and a shitload of very “official” looking benefits such as authorized to officiate shits, have state owned cars and the shebangs.

He just told me that most of his prior $ comes from additional allowances thats not part of pencen calculations, and his base salary is ciput, says i can just google his salary scale for his grade and I’ll understand. But of course i couldn’t be bothered and he got no point in lying to me anyway

even if you retire, you will be charge on the interest earn. So soon they will have this law

with how lazy some of them are good la

Many in my family members are way lower than that...and they are very grateful. Just before retirement they get good golden handshake $$ also

You don't know how government pension works / calculated.

As i know JUSA level confirm can get

Grade 48,52,54 also can hit provided they serve long enough

serve 30 years and above can get 60% pension of last drawn basic salary

This post has been edited by yhtan: Jun 4 2025, 05:05 PM

But nowadays we have it worse at 60yo

another 5 more years would be better suited to your needs.

i know allowances can goes up above 10k for JUSA level, last time i remember one of my mum's friend who is JUSA C level, petrol fleet card pun ada RM1,500 limit.

Some more most of the allowances is tax exempted, making their tax payment even lower than the private sector.

I don't even know if boss want me to pasang pc at that age lol

.
If the full EPF Withdrawal age is also increased to 65, the option to retire before 65 would be limited, eg opt to retire at 50..
.

But pocket uang kosong, blame gomen pulaks.

Kesian Malaysian, Kesianks.

Level tinggi can retire early, level rendah saupei lah.

Moi also sudah 49, wanna retire now also can but what for if your job is fun. But for the rest, can only blame sendiri why low level low achievement low benefit.

Keh keh keh.

.
Yes, AFAIK, Singapore's CPF no more Full EPF Withdrawal at retirement age, ie only monthly "subsistence" withdrawals until you die, like insurance annuity. You like.?

Malaysia's EPF could end up like Singapore's CPF = more money for the government to borrow for its annual budget.
.

My prediction

The retirement age will probably increase from 62 to 65

No more options to withdraw everything except a small amount

Balance will be monthly withdrawal until 75 to 80

Bcoz raising retirement age is an indirect reflection of the failure of gomens to curb costs of living and inflation...

Instead of solving the issue , you're made to work longer to ensure you have adequate savings or if you still dont have enuff savings by that retirement age - you will definitely be nearly your last days. So you're just a temporary problem for them until your depopz...

Before implementing officially, they will give a window first for the workforce and EPF contributors to 'adjust' themselves. We can do the necessary then during this time before full implementation.

STRF is the new EPF soon... fixed 7% PA ( after -30% withholding tax )

NBDRE ... pump muh buttcoins ppl...

Unless you're 55 years old, you can't do anything 😁

Which part incorrect?

99% of the population, i.e., employees, will have to struggle longer, while 1% of the population (employers) are relived from pressure to increase wages and can continue to enrich themselves at expense of others.

Mahathir elok je
Oh wai

Literally all government in this world, SG included. All are failing gomen

more like seniors blocking earth from moving, making youngsters waste more time in smaller roles

on the other end of the scale the old boomers in higher positions don't want to retire early
so can suap more

So that the higher management position oldfag can continue to songlap.

Only if malaysia can become a science and tech strong economy with modern agriculture the next best industry then it can rely less on oil and gas and provide more jobs for young people

60 cukup la let old dogs retire

because one of madani minister suggested this. if bawang or abahkau or mr print money suggested this conlanfirm many will agree.

Have missed the train.

If boomers don't retire, how to get promotion to senior position?

To solve what problem first?
If it’s about manpower, we already have bangla paki waiting to replace us

If it’s about epf, fark off

Kerja sampai mampus

hedonism in someone culture and value over hard work till death.

I actually think it will be otherwise. Many issues are considered serious threat and cruelty to the citizen until Madani become government, suddenly become bright idea. Eg AES/AWAS.

If youngsters are capable, they be able to overtake the boomers

There are plenty of C suite people who are young today

However, there are tons of youngsters who think they are better than boomers but in reality they are just dreaming

Many people I talked to said that felt happy after retirement for few months and then don't know what to do with boredom

Raising retirement age has been discussed since Najib time lah

Najib was the one who raise it to 60

We need to revisit this issue today because it's genuinely a problem which we must tackle

I don't know why there are people who against it

If you want to retire early, no one is forcing you to retire at 65

This option is for those who still need to work as they can't afford to retire early

As for EPF, if people rely only on EPF as their only source of fundings after retirement, it means that you really should retire at 65

As for not allowing people to withdraw everything, just look at Singapore and the reason why they are doing it lah

A very good advise I received from a retiree friend who recently pass away

Just before you retire make sure take up hobby of interest so that you wake up with motivation to pursue it

That's why he pick up photography, computer repair, racket sports...

This post has been edited by knwong: Jun 5 2025, 09:33 AM

extending the option to work a longer time is a good thing, isn't it?
While those who are capable and tired of working can just stop working earlier.