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 Why Msian so against new 65 yr old retirement age?

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Syie9^_^
post Jun 5 2025, 11:59 AM

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QUOTE(30624770 @ Jun 5 2025, 10:56 AM)
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
*
Why need to raise to 65.

Because there is problem with wealth generation down the economy.

Raising retirement age doesnt mean will solve "afford to retire"

the pool of wealth fund in EPF is dwindling very fast and the feed to the system is low.

even increases retirement age, doesnt mean it will contribute towards replacing funds that is departing.

Catch 22 problem.



Syie9^_^
post Jun 5 2025, 12:16 PM

Catwoman
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QUOTE(30624770 @ Jun 5 2025, 01:37 PM)
Fact 1. Malaysian population is aging population
Fact 2. Most Malaysian people don't have enough when they retire at 60
Fact 3. Some Malaysians used up all their retirement funds in just a few years after retiring
Fact 4. Most successful countries in the world set their retirement age above 60
Fact 5. EPF sustainability will be a problem in the future if we continue with current set up

There are tons of reasons why raising retirement age is a no brainer lah
*
is not about no brainer.

It is about solving the problem.

No matter you aged long, if there is no skillset necessary for economic productivity and adequately allows you to live within your means.

it is catch 22.

Your Facts is not denied, but the larger question is what is sustainable for individual minus EPF system.


 

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