The government has increased retirement age from 58 to 60. But that’s for the civil servants. The private sector still has to keep 55 as its retirement age.
Like most of us, our Human Resources Minister, Datuk. Dr. S. Subramaniam feels the retirement age should be raised in private sector too.
He was quoted by The Star newspaper as saying that the current retirement age of 55 was set many years ago when the life expectancy of Malaysians was around 55.
“Now, it is around 75, so we can’t keep the retirement age at 55,” said Dr Subramaniam at a press conference after launching the Malaysian Employers Federation (MEF) national conference 2011.
Earlier in his speech, he said Malaysia was “lagging behind” in terms of its retirement age requirement compared with other countries in the region such as Thailand, the Philippines and Singapore.
He said representatives of employers, employees and the Government were currently in discussion to decide on a new retirement age for the private sector.
He added that the MEF had agreed in principle to the proposed rise in the retirement age, but had some reservations that needed to be addressed.
“The Private Sector Retirement Age Bill is currently being drafted. The Act will give us the power to stipulate the retirement age for the private sector,” said Dr Subramaniam.
He said that currently, the Em- ployment Act only stipulated the retirement age for the government sector.
“Now that the retirement age for government workers has been extended, people will expect the private sector to follow suit,” he said.
Prime Minister Datuk Seri Najib Tun Razak announced that the retirement age for the civil service would be raised from 58 to 60 years when announcing Budget 2012 last week.
Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts
Wednesday, October 12, 2011
Monday, June 27, 2011
TalentCorp: Contributing from outside
When Talent Corporation Malaysia (TalentCorp) was announced, the buzz words were, “luring Malaysians from foreign country back to Malaysia”. Actually it’s more thant that.
According to The Sun newspaper report quoting TalentCorp’s chief executive officer (CEO) Johan Mahmood Merican, TalentCorp is poised to work towards optimising foreign talent and up-scaling Malaysian talent, instead of merely focusing on bringing Malaysians home to work.
Speaking to the media after participating in a panel discussion at the Government Linked Companies (GLC) open day, he said the corporation is also looking at ways how Malaysians abroad can contribute to the country from wherever they are.
"In looking at talent needs (in the country) it cannot just be (focused on) Malaysians abroad," he said.
"We need to also be aware of the opportunities (available) to utilise foreign talent and up-scale Malaysian talent," he was quoted as saying, adding that the organisation was looking into optimising foreign talent within Malaysia.
"We are working very closely with different key sectors of the economy, to find what can be done to address the critical skills gap, and how to forge public-private partnerships to address these shortages," said Johan.
Asked about an announcement in Parliament last June by Prime Minister Datuk Seri Najib Abdul Razak that TalentCorp would lure about 700,000 Malaysians working abroad home, Johan said luring such a figure was impossible.
"What he articulated when he made the announcement was how many Malaysians were overseas. I do not think it was any attempt to say we'll bring everyone back. Clearly we cannot bring everyone back," said Johan.
According to The Sun newspaper report quoting TalentCorp’s chief executive officer (CEO) Johan Mahmood Merican, TalentCorp is poised to work towards optimising foreign talent and up-scaling Malaysian talent, instead of merely focusing on bringing Malaysians home to work.
Speaking to the media after participating in a panel discussion at the Government Linked Companies (GLC) open day, he said the corporation is also looking at ways how Malaysians abroad can contribute to the country from wherever they are.
"In looking at talent needs (in the country) it cannot just be (focused on) Malaysians abroad," he said.
"We need to also be aware of the opportunities (available) to utilise foreign talent and up-scale Malaysian talent," he was quoted as saying, adding that the organisation was looking into optimising foreign talent within Malaysia.
"We are working very closely with different key sectors of the economy, to find what can be done to address the critical skills gap, and how to forge public-private partnerships to address these shortages," said Johan.
Asked about an announcement in Parliament last June by Prime Minister Datuk Seri Najib Abdul Razak that TalentCorp would lure about 700,000 Malaysians working abroad home, Johan said luring such a figure was impossible.
"What he articulated when he made the announcement was how many Malaysians were overseas. I do not think it was any attempt to say we'll bring everyone back. Clearly we cannot bring everyone back," said Johan.
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