PETALING JAYA: Financial independence and security are some of the reasons for senior citizens to continue working.
For 63-year-old personal driver R. Ravi, it is less about retirement age and more about staying active while maintaining some financial independence.
“I want to keep myself busy and earn enough to cover expenses. I do not want to just sit at home and depend on my children so much,” said the Cheras resident.
While Ravi felt older workers were adequately protected, he hoped PERKESO assistance could be provided faster and involved less bureaucracy in the event of injury or illness.
“The coverage should also be increased for work injuries and other things,” he said.
Ravi also hoped Malaysia could introduce regular financial support for older workers who continue working beyond retirement age, similar to pension-style support available in some countries.
Similarly, 61-year-old baker Prem said stronger social protection would give her greater financial security as she gets older.
She said older workers, including those earning through small businesses or flexible work, should have access to adequate protection amid the rising cost of living.
“I do not think I need to earn as much as I did before. As long as I can still earn something, manage my expenses and have some protection for the future, I am comfortable.
“However, there are many people around my age who need to make ends meet, even taking up jobs such as e-hailing drivers for better remuneration and stronger social protection that can help during difficult times,” she said.
Ageing experts contacted said Malaysia must rethink how it supports an ageing workforce, with stronger social protection, flexible or phased retirement, continuous upskilling and more age-inclusive workplaces needed.
Malaysia Healthy Ageing Society (MHAS) vice-president Dr Wong Teck Wee said the country’s current policies were not adequately prepared to support a longevity economy.
“We also need labour policies that legally protect flexible employment contracts for seniors, ensuring they retain access to healthcare coverage, medical insurance protection, and equitable wage structures,” he said.
He said social security frameworks such as PERKESO must evolve to better protect those working beyond 60, including by expanding safety nets, incentivising continuous micro-upskilling and encouraging flexible employment arrangements.
He added that government-backed tax incentives and public awareness campaigns could encourage more multi-generational workplaces, while employers should train managers to recognise the value older workers bring through their experience and skills.
Senior research officer at Universiti Putra Malaysia’s Malaysian Research Institute on Ageing (MyAgeing) Chai Sen Tyng said limited opportunities for training, reskilling, upskilling and retraining were among the biggest barriers preventing older Malaysians from continuing to work.
He said this could prevent older workers from acquiring essential new skills, effectively discriminating against lifelong learning.
“What we need to do is focus on the abilities, actual contributions and expertise that older workers can bring to the table,” he said.
Chai said employers should consider reemployment and phased retirement arrangements, allowing older workers to transition into different roles while contributing to succession planning.
Universiti Teknologi Mara economist Dr Mohamad Idham Razak said raising the retirement age alone was insufficient, stressing that older workers should be retained based on competency, productivity and skills.
“Employers should have the flexibility to retain experienced workers who continue to perform well, while also creating pathways for fresh graduates through internships, apprenticeships, graduate trainee programmes and entry-level positions,” he said.
Idham said an ageing workforce should not come at the expense of younger Malaysians, as older workers brought experience and technical expertise while younger workers contributed new ideas and digital skills.
“The objective should therefore be to build an intergenerational labour market where both groups can contribute,” he said.
