Many civil servants have to work until their mid-30s before they can afford to take up a housing loan. By the time they retire, they will probably still be repaying these loans. More Malaysians are also marrying later and having children at an older age. Many parents in their 50s struggle to pay for their children's education. Burdened by the ever-increasing tuition fees for their children's tertiary education, retirees often find their hair growing whiter with worry.
Most retirees usually place their retirement benefits in bank fixed deposit accounts.
But this prudent move has barely improved their nesteggs. Although the state-run general hospitals have provided a cheap alternative to the exorbitant private hospitals, even this option is under threat. Activists say plans are afoot to ''corporatize'' or semi-privatize hospitals and this, they fear, could lead to higher health care costs. Apart from calling for a better deal for retirees, some critics say there is no reason why those above 55 should not be allowed to work longer. They point to Prime Minister Mahathir Mohamad, who, at 74, shows no sign of clearing his office drawers and enjoying retirement life with his grandchildren.