Posted 4/5/2024, 10:16:31 PM
Government Faces Backlash Over Plan to Scrap Civil Service Pensions
- Government is scrapping pension scheme for new civil servants as part of reform plan
- Met with resistance as civil servants accept lower salaries in exchange for guaranteed pension
- Pension system considered lucrative, especially if civil servants live to an old age
- Current pension liability is RM1.3 trillion problem government is trying to address
- Civil servants concerned about losing guaranteed income in retirement through pension reform
