Prospects for retirees

With Malaysia in the final stages of drafting a new law to increase the retirement age in the private sector from 55 to 60, retirees can look forward to the opportunity of working longer and earning more money.

Despite some mixed views on this, it is not difficult to see why there is a need to prolong the legal working age. In Singapore, the retirement age is set at 62, with countries such as Thailand, Brunei and Indonesia already observing 60 years as the official retirement age.