Working or retired? Here is what Budget 2027 offers Malaysians over 60
KUALA LUMPUR, Nov 4 — Reaching 60 does not automatically mean clocking out for good, drawing a pension, or qu...
When Malaysia's Budget 2027 was unveiled, it presented a diverse array of provisions benefiting Malaysians aged 60 and older. The budget earmarks RM16 billion for cash support via STR and SARA, which will now reach up to nine million Malaysians with an additional RM100 SARA Madani payment twice a year. For those still earning, individual income tax relief increases to RM12,000 from RM9,000, and tax rates diminish for specific income brackets.
Retirees can also benefit from flexible EPF withdrawals and expanded tax relief for aged care expenses. Additionally, the government sets aside RM1.3 billion for older Malaysians' welfare, supporting nearly 200,000 recipients under the Bantuan Warga Emas program. Civil servants and government retirees will see a pension increase, while caregivers will face expedited bankruptcy relief. These measures collectively aim to support Malaysia's aging population amid rising costs.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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