Private sector retirement age bill in final stage
BernamaPublished: Feb 14, 2012 7:11 AM | Updated: Feb 14, 2012 8:17 AM
Human Resources Minister Dr S Subramaniam says the Private Sector Retirement Age Bill is in the final stage of drafting.
Human Resources Minister Dr S Subramaniam says the Private Sector Retirement Age Bill is in the final stage of drafting.
“We hope that the bill can be tabled at parliament session starting March 12 but first we have study one or two issues,” he told reporters in Putrajaya today.
Dr Subramaniam (left in photo) said presently, there is no mandatory retirement age set for the private sector, unlike the public sector.
Under the new law, private sector employees will only be retired at 60 years and may be given a four year extension if their services are required.
Malaysian Trades Union Congress (MTUC) secretary-general Abdul Halim Mansor welcomed the move as it will benefit over six million private sector employees nationwide.
Earlier, the minister witnessed the signing of a memorandum of understanding (MoU) between Skills Development Department and Computing Technology Industry Association (CompTIA), London Chamber of Commerce and Industry (LCCI) and Technology Association of Malaysia (TAM).
- Bernama
“We hope that the bill can be tabled at parliament session starting March 12 but first we have study one or two issues,” he told reporters in Putrajaya today.Dr Subramaniam (left in photo) said presently, there is no mandatory retirement age set for the private sector, unlike the public sector.
Under the new law, private sector employees will only be retired at 60 years and may be given a four year extension if their services are required.
Malaysian Trades Union Congress (MTUC) secretary-general Abdul Halim Mansor welcomed the move as it will benefit over six million private sector employees nationwide.
Earlier, the minister witnessed the signing of a memorandum of understanding (MoU) between Skills Development Department and Computing Technology Industry Association (CompTIA), London Chamber of Commerce and Industry (LCCI) and Technology Association of Malaysia (TAM).
- Bernama
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