Preparing for an ageing nation

Still working: File photo of a senior citizen in Singapore taking a customer’s order at a fast food restaurant. Such sights are common on the island where retirees can continue to work if they want to. — Filepic/AFP

MANY Malaysian workers will have to keep working past the official retirement age because more than 50% – or 6.67 million workers – have less than RM10,000 in savings under the Employees Provident Fund (EPF) scheme.

Malaysia is not a welfare state and will not be able to fully support these retirees. Therefore, like it or not, they will have to keep working after they reach the official retirement age of 60.