Measures to protect pensioners to be announced soon, says PM

KUALA LUMPUR: Measures to protect pensioners are in the works following the Federal Court’s decision which invalidated amendments to the pension law, says Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also Finance Minister, said the government was working on the details of the mechanism and would make an announcement soon.

"We’ll deal with it. We have to respect the decision of the Federal Court. We are having a mechanism to protect pensioners and will announce it soon,” he told reporters after launching the International Social Wellbeing Conference 2023 here Thursday (July 6).

On June 27, the Federal Court ruled that legal amendments made in 2013, which introduced a new pension scheme that adjusts pension payments every year by a two per cent increment, were less favourable to pensioners and unconstitutional.

The decision meant that the older version of the law containing the old pension adjustment scheme would be restored.