Pension payouts to hit RM46.6bil in 2030, says PM

 

The pension payment figures include service rewards and leave replacement payment. (Bernama pic)

PETALING JAYA: Pension payments are forecast to reach an estimated RM46.6 billion in 2030, Prime Minister Ismail Sabri Yaakob said.

In a parliamentary reply to Bukit Bendera MP Wong Hon Wai yesterday, Ismail said pension payments in 2020 ballooned to RM26.38 billion, from RM9.88 billion in 2010.

The sum includes service rewards and leave replacement payment.

“The government is fine-tuning a newly proposed civil service retirement scheme to ensure that it optimises government spending in the long run, and at the same time ensures that the welfare of civil servants is always guaranteed,” said Ismail.

Ismail had been asked to state the amount of pension payments for each year from 2010 to 2020 and the forecast for 2030.

He was also asked to state the government’s measures to deal with the rise in payments in the upcoming years. - FMT