SPCAAM Proposes New Retirement Age to 65 Years!

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Malaysia Independence Day

The Malaysian Social Security Contributor Advisory Services Association (SPCAAM) has suggested that workers should be allowed to work voluntarily until they reach 65 years of age.

The move would ease the economic burden on both workers and the country, as many private workers struggle to save enough money for retirement. Recent reports from the Employees Provident Fund (EPF) have shown that over 51% of members aged 55 and below have less than RM10,000 in savings.

SPCAAM And Retired Citizens

The association’s adviser, Callistus Antony D’Angelus, argues that allowing people to work longer could create a stimulus for economic growth, while also preventing future socio-economic crises involving retired citizens.

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