Life expectancy in Malaysia now is 78 for woman and 72 for man, so it is time that the authority review the retirement age as some folks especially the professional are valuable assets that could still contribute to the country.
A close friend of mine, age seventy plus like me is now managing a sprawling resort in Bali. So Malaysia should consider providing employment opportunity to those folks who still want to work, instead of having some 2 millions of foreign workers in our country.
You are right. Retiring at 58 is ridiculous! Although the Malaysian govt has raised it from 55, it is still way below the retirement age of 62 in many countries.
Older folks who have to quit the work force at the mandatory retirement age of 58 still have at least another 10-20 economically productive years ahead of them. What a waste of their talents and skills!