By Shannon Teoh
KUALA LUMPUR, June 13 — Putrajaya proposed today to make 60 years the earliest retirement age for the private sector, in another concession to workers following the recent wage floor and revival of studies into unemployment benefits.
The Minimum Retirement Age Bill, tabled by Human Resource Minister Datuk Seri Dr S. Subramaniam, also supersedes any previous retirement age agreed to between employers and employees if passed into law.
“Any retirement age in a contract of service or collective agreement made before, on or after the date of coming into operation of this Act which is less than the minimum retirement age provided... shall be deemed void and substituted with the minimum retirement age provided under this Act,” reads Section 7 of the Bill.
However, the Bill allows for an employee to opt for early retirement if such a clause exists in the employment contract.
The government will also be able to gazette a higher minimum retirement age if necessary.
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