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Thread: Retirement age in China is likely to postpone to 65!
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[quote=WANHU,345779]We were once under British rule until August 1957. After independence, Malaya later becomes Malaysia retained the retirement age at 55 for men and 50 for women. Until recently the government agrees to increase the optional retirment age from 56 to 58 for civil servants, while judiciary still remains at 66. Yes, pensions are for government employees and they receive only half from their last drawn monthly salary. I think the retirment age should be 55 to give others opportunity to join the civil service. Most civil servants won't ask "why I should work longer" because the longer their service is, the better gratuity will be paid. During retirement day, a civil servant enjoys a gratuity payment in cash with last drawn salary X months of work X 7.5%. If he works for 300 months with last drawn salary of 5000 per month, he gets gratuity of 112,500 and monthly pension of 2500 until his demise. Wan[/quote]
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