Overtime in the private sector, too
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Wednesday, September 28, 2011
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PETALING JAYA: The retirement age for employees in the private sector looks set to be extended.
Both the Government and Malaysian Employers Federation are in favour of it. The Government agrees with the unions that the retirement age, now set at 55, has to be increased as people live longer and need money to support themselves for the next 20 or 30 years.
However, it has not decided on the exact age for retirement.
Those reaching 55 years are all for it, with many pointing out that they can still contribute effectively at their age, if not better.
But those in their 20s and 30s have reservations on the issue, with many saying that retaining this group of employees meant that it will be harder for the younger crowd to rise in the ranks.
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