Kota Kinabalu: Universiti Malaysia Sabah (UMS) Faculty of Business, Economics and Accountancy lecturer Dr Izaan Azyan Abdul Jamil said the pension move is well-timed, taking advantage of the current government’s stability with two-thirds majority in parliament.
“The decision is widely supported by economists who assert that the current pension scheme is a ticking time bomb.
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“With government operational expenses approaching RM32.53 billion by 2024, this number represents a sizable 10.7 per cent of the government’s operational budget.
“To put this in context, the Federal Government expects to spend RM8.36 billion on development across all states, RM7.42 billion on national defence and RM6.14 billion on healthcare.
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