KUALA LUMPUR: It is time for Malaysia to embrace serious reforms in its pension and retirement framework to ensure financial security and equity for all Malaysians, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said a recent survey found that 26.1% of respondents above the age of 60 will continue to work until their health fails as they face challenges in achieving income security to finance their retirement needs. He said the old-age population is more susceptible to poverty compared to the average Malaysian population, as only 29 per cent of Malaysians have pension or pension-like income during retirement. Also present were Deputy Prime Minister Datuk Seri Fadillah Yusof, Finance Minister II Datuk Seri Amir Hamzah Azizan and EPF chairman Tan Sri Ahmad Badri Mohd Zahir. The government will further strengthen social assistance programmes to provide support and a safety net for Malaysians who are facing financial hardship.

Source: The Star June 05, 2024 00:06 UTC