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"Malaysian employers say private sector unemployment rate will jump with the full implementation of the new retirement age of 60 in accordance with the Minimum Retirement Age (MRA) Act. Unemployment could rise from the current 3.7% to above the significant 4% threshold as the industry is forced to digest the loss in job openings as people retire later.

The Malaysian Employers Federation (MEF) said without a transition period the private sector will retain 100,000 of the workforce who would have otherwise retired at 55 in 2H13.

At the same time, 200,000 new job seekers will enter the market. (Malaysian Reserve)"