KUALA LUMPUR, June 16 (Bernama) — The government will not compromise with any employer breaching the Minimum Retirement Age Act 2012 as the nation prepares to face the aged nation status by the year 2030.
Deputy Human Resource Minister Datuk Seri Ismail Abd Muttalib told the Dewan Rakyat sitting that the matter was important as a study revealed that the worker’s debt status upon reaching retirement age was high.
“This Act helps to increase the worker’s total savings in the Employees’ Provident Fund (EPF). Fourteen percent of retirees exhaust their savings within three years. Five percent within five years, while 70 percent exhau…
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