HRSINGAPORE Community Discussions
Malaysia Retirement Contract
With Malaysia retirement age as 60 years old, is it necessary to issue them a contract just like what we did for Singapore? If the employee (age 60) choose to resign instead of retire and serve the required notice, however during the notice period, the employee realize that he could retire instead of resign.
Is there any retirement benefits that the company should comply?
REPLIES & COMMENTS
Payment of retirement benefits depends on company policy. It is not a statutory requirement to pay retirement benefits in Malaysia.