New: Calls Grow to Review Malaysia’s Retirement Age

KUALA LUMPUR, Oct 1, 2026, Former EPF chief executive officer and current Axiata Group chairman Tan Sri Shahril Ridza Ridzuan has reignited debate on Malaysia’s retirement age, urging a review in light of longer life expectancy and Malaysians’ willingness to remain economically active beyond 60. Speaking at the International Social Wellbeing Conference 2026, Shahril said flexible arrangements such as part-time work could help older Malaysians stay productive, benefiting both mental and physical health.

His call was backed by the Malaysian Trades Union Congress (MTUC), which reiterated its proposal to raise the private-sector retirement age to 65. MTUC president Datuk Abdul Halim Mansor argued that extending the age would boost EPF savings, reduce dependency on foreign workers, and keep employees physically and mentally active.

Retirement Age

He stressed that amendments to the Minimum Retirement Age Act 2012 would ensure continued protection under EPF, SOCSO, and the Employment Act.

However, the Malaysian Employers Federation (MEF) cautioned against a blanket increase, saying retirement decisions should remain flexible and based on individual choice. MEF adviser Datuk Syed Hussain Syed Husman noted that consultancy and contract work already provide options for retirees.

Shahril also advised members to consider phased EPF withdrawals, highlighting improved financial literacy and savings trends among Malaysians.

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