Solving a RM1.3 trillion pension liability problem

WHEN Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said in January that the government is scrapping the pension scheme for new civil servants as part of its pension reform plan, it was met with much resistance.

For many civil servants, they do not mind the lower salaries as they are assured of a guaranteed pension when they retire. The pension system is considered to be lucrative, especially if they live to an old age.

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