Published: Tuesday February 14, 2012 MYT 3:10:00 PM
Updated: Tuesday February 14, 2012 MYT 3:52:40 PM
Subramaniam: Drafting of private sector retirement age bill in final stage
PUTRAJAYA: The Private Sector Retirement Age Bill is in the final stage of drafting, said Human Resource Minister Datuk Seri Dr S. Subramaniam.
"We hope the bill can be tabled at the Parliament session starting March 12 but first, we have to study one or two issues," he told reporters here Tuesday.
Subramaniam said presently, there was no mandatory retirement age set for the private sector, unlike the public sector.
Under the proposed law, the retirement age for private sector employees will raised from 55 to 60 years and they 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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