PETALING JAYA: Malaysia’s greying workforce challenge is not just about raising the retirement age, but about keeping willing workers working at any age.
PERKESO deputy chief executive (Strategy and Corporate) Edmund Cheong Peck Huang said the country’s ageing population means the proportion of older Malaysians will rise over time, while the relative size of the younger population entering the workforce will shrink.
“The question for Malaysia is no longer simply: at what age should Malaysians retire?
“We should also be asking: how do we enable Malaysians who want and are able to continue working to remain economically active, productive and protected?”
Cheong said an ageing society should not automatically mean a less productive society.
“Older workers carry decades of knowledge, experience and skills that remain valuable to the economy.”
He said the country is facing two demographic forces at the same time: people are living longer, while fewer children are being born.
This, he said, has implications not only for social security, but also for healthcare, productivity, employers and the sustainability of the country’s human resources.
“We need to understand the actual risks faced by older workers: occupational injuries, reduced earning capacity, rehabilitation needs, employability, workplace adaptation and how we can help someone who wants to continue working to do so safely.
“PERKESO will continue studying these changing patterns and the adequacy of our protection as Malaysia’s workforce evolves,” he said.
Cheong urged senior citizens who are still working to ensure they are protected.
“You may still be supporting your spouse. You may be helping your children or grandchildren.
“You may be paying for your own daily expenses, or perhaps you simply want to remain independent and productive.
“But as we grow older, recovering from an accident can take longer and the financial consequences of being unable to work can become more serious,” he said.
Cheong said protection is available for the self-employed under the Self-Employment Social Security Scheme.
“If someone at 60 or 65 still has the health, skills and desire to work, our challenge as a country should be to make it possible for that person to continue contributing safely and with dignity.”
He said Malaysia’s ageing population is not merely a challenge for the future.
“More than 430,000 PERKESO contributors aged 60 and above tell us that the future is already here.”
