Retirement crunch looming

Common pastime: (From left) Frankie Cheah, 76, Ng Kam Choon, 71, and Chin Kong Poon, 59, meeting up for a chit-chat over breakfast at a kopitiam in Taman OUG in Kuala Lumpur. — AZHAR MAHFOF/The Star

PETALING JAYA: The numbers paint a worrying picture – nearly 40% Malaysians do not have a retirement plan, which has experts calling for government intervention to forestall a crisis.

In the Malaysia Ageing and Retirement Survey (MARS) Wave 2, some 37% of the 4,821 respondents said they had not given much thought towards retirement while 23% said they may opt to change the nature of their work.