#Budget2027 | Key financial assistance programs, tax reliefs, welfare measures for senior citizens, retirees & caregivers

Opinion
15 Oct 2026 • 8:30 AM MYT
Zulkifly Baharom
Zulkifly Baharom

An HR practitioner, Sejahtera Leadership Coach & Gusi Peace Prize Laureate.

Image from: #Budget2027 | Key financial assistance programs, tax reliefs, welfare measures for senior citizens, retirees & caregivers
OE Dato' Seri Mutalib flanked by Dr. Zul & Asec Amir. Pix: OEAKL

As a senior citizen, I am delighted that the MADANI Government will reduce the service tax on elderly care services from 8% to 6% from 1st January 2027, with a full exemption on care fees of up to RM96,000 annually under Budget 2027. Prime Minister Datuk Seri Anwar Ibrahim said the government would also draft a Senior Citizens Bill to address neglect and strengthen the country's overall elderly care system as Malaysia prepares for an ageing population. More than RM40 million will be channeled through HRD Corp to train 8,000 people for jobs in the elderly care sector. 2 National Integrated Care Centers of Excellence (NICE) will also be developed in Penang & Sarawak to support training, research and elderly care. In addition, the government will raise financial assistance for senior citizens to RM1.3 billion next year, benefitting nearly 200,000 recipients. EPF members aged 55 and 60 will also be able to opt for i-Emas scheme, for the monthly withdraws.

Image from: #Budget2027 | Key financial assistance programs, tax reliefs, welfare measures for senior citizens, retirees & caregivers
Oato' Seri Mutalib (5th from right) with OEAKL Asst Sec Amir, VP Dr. Zul & student leaders of various universities at a dialogue in KL, emphasized that healthcare must benefit on the "whole person.” Pix: MASA

I am grateful to all readers for likes on my story “Every Malaysian should be able to find a job that pays enough to support a family provides dignity & pride” published by newswav.co on 12 October 2026. In particular special thanks to Attorney Dato' Seri Abdul Mutalib Razak, a member of Old Edwardian Association KL for sharing feedback that "The Budget is an election slanted one where Sara SPA gets extra funding some for the SMEs and of course, higher minimum wages but limited for small businesses. Being over the age of 80s, I found that the economy is heading towards more older population but not much is really addressed especially in areas of medical care per se like medicine subsidies for drugs that are costly etc. But, Alhamdulillah next year I can get RM200/- Sara.


Image from: #Budget2027 | Key financial assistance programs, tax reliefs, welfare measures for senior citizens, retirees & caregivers

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