KUALA LUMPUR: The high youth unemployment rate of 10.9% is one of the reasons the government decided against extending the retirement age of workers to 65, Human Resources Minister M. Kulasegaran said today.
He said there are no plans to extend the retirement age, as staff over the age of 60 can still be re-employed by companies.
“Extension of the retirement age may have an impact on youths who are looking for a job,” he told the Dewan Rakyat.
Kulasegaran pointed out that the government has also considered the health factor of those above 60 years of age.
“Their health and physical capability could impact their work productivity,” he said responding to Rusnah Aluai (PH-Tangga Batu), who asked if the ministry would increase the retirement age to 65.
To an additional question, Kula said jobs related to e-commerce and digitalisation would replace some 14% of present jobs in the next 25 years.
“This is due to the Industrial Revolution 4.0, based on a report by the International Labour Organisation. This could be seen in e-commerce platforms like Alibaba and Lazada, where many logistics-related jobs are being offered,” he added.
