Economists Say Growing Government Pension Costs Are Putting Malaysia’s Economy At Risk

Economists have described the government's proposed revamp of the civil service retirement scheme as a vital structural reform According to the New Straits Times, the shift is seen as crucial to preventing rising pension liabilities from undermining the country's long-term fiscal health. The government is currently refining the proposed mechanism, known as the "contributory permanent appointment" scheme, to balance long-term fiscal sustainability with the need to attract and retain top-tier talent. Sunway University economics professor Dr Yeah Kim Leng said the current...