Reaching 60 does not necessarily mean you’d want to stop working. Selangor is now looking at how to make that possible through a proposed “Silver Workforce” initiative for older workers that would give older residents who are still able and willing to work more opportunities to remain in the workforce.
Selangor executive councillor for Women and Family Development and Social Welfare Anfaal Saari said the state has conducted a study on the needs of older citizens and held a roundtable discussion with the Selangor Silver Citizens Council to explore how the initiative could be implemented.
However, the initiative cannot be rolled out just yet. The state first needs to build an ecosystem that supports older workers.
More Work Options For Older Residents
Anfaal said this would include employment laws and guidelines, insurance protection, training and upskilling programmes, as well as support schemes and advisory services for older workers.
The aim is to make sure employment opportunities come with the support needed for older workers to remain in the workforce.
She pointed to efforts to create more employment opportunities for people with disabilities as an example. Those efforts were supported by incentives for employers, skills training and employment guidance before opportunities were expanded. Anfaal said a similar approach could be used for older workers.
The move also comes as Selangor’s population gets older. Life expectancy in the state has reached around 78 years, meaning people can potentially spend many years beyond the traditional retirement age.
Anfaal said this gives older residents, particularly those aged between 60 and 70 who are still healthy, skilled and willing to work, an opportunity to continue contributing to the economy and their families.
Malaysia Is Already Preparing For An Older Population
Selangor’s proposal comes as Malaysia looks at how to deal with a population that is living longer and getting older.
Under the 13th Malaysia Plan, the government proposed reviewing the Minimum Retirement Age Act 2012 and introducing new laws on re-employment after reaching the minimum retirement age. The aim is to increase the participation of older workers in the labour market.
There has also been discussion about whether the current retirement age of 60 should be extended to 65. The Ministry of Human Resources previously said it was evaluating the proposal, while others have argued that people who remain healthy and capable should have the option to work longer.
The focus is not only on keeping people in traditional employment. In February, the Retirement Fund (Incorporated), or Kumpulan Wang Persaraan (KWAP), launched a RM20 million microfinancing programme to help government retirees start or expand small businesses. The programme was introduced as part of efforts to support continued economic participation after retirement.
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