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Senior citizens practice tai chi at a shopping mall plaza in Penang, Malaysia. / Kuala Lumpur Correspondent Hong Seong-a

The Malaysian government is pushing measures to guarantee the right of choice to work for seniors who wish to continue working past the statutory retirement age of 60, without extending the statutory retirement age itself.

According to Malaysian daily The Star on the 29th (local time), Finance Minister II Datuk Seri Amir Hamzah Azizan stated at the International Social Wellbeing Conference (ISWC) 2026 held on the same day that the choice to continue working must be guaranteed for individuals who wish to work past 60.

Minister Amir Hamzah made the remarks while delivering a speech on behalf of Prime Minister Anwar Ibrahim, who was unable to attend the event.

Behind this discussion lies Malaysia's rapid population aging. According to the Department of Statistics Malaysia (DOSM), the population aged 60 and over stood at approximately 4.2 million as of July, accounting for 12.3% of the total population of around 34.4 million.

Malaysia became an aging society in 2021 and is projected to become an aged society by 2048.

Economic activity among seniors is also on the rise alongside these social changes. According to the Social Security Organisation of Malaysia (PERKESO), registered workers aged 60 and over totaled 433,563 between January and July this year.

This surpasses the 415,335 recorded for the entire year of 2023. Notably, 77,838 individuals, or 18% of the total, are informal workers such as the self-employed.

Accordingly, PERKESO pointed out the need to devise new social security solutions so that workers aged 60 and older do not fall into blind spots within the existing social safety net.

Securing post-retirement income was also cited as a primary challenge. Prime Minister Anwar noted that only four in 10 workers are able to accumulate 390,000 ringgit (approximately 130 million won), the savings benchmark required for basic living after age 60. The government aims to raise this figure to six in 10 workers by 2030.

In the speech, Prime Minister Anwar emphasized the importance of ensuring economic security, health, and social roles for the aging population.

In particular, he stated that more opportunities should be provided so that the accumulated experience and competence of older adults can continue to be utilized in society and the economy.

He remarked, "Raising the floor is only half the solution," adding, "We must also raise the ceiling so that the aging population can lead meaningful later years."

                                                                                                           Hong Seong-a