PARTI Sosialis Malaysia (PSM) chairman Dr Michael Jeyakumar recently put forward a proposal for a senior citizens’ pension scheme to alleviate the hardship of the B40 group who are finding it increasingly difficult to cope with the rising cost of living and medical expenses.
Despite persistent calls by the public and politicians over the years the government is stubbornly refusing to recognise the vulnerability of the aged among the B40.
A large number of the B40 are in a dire situation and finding it not worth living during this last phase of their once useful years.
Malaysia is one country that refuses to acknowledge the vast contribution of the B40 group in nation building during their working life. The government is only concerned about increasing remuneration for its civil servants as well as protecting its past employees with hefty pensions.
This is totally unfair and discriminatory. Whether one worked for the government or private sector all of them have done their part in making what Malaysia is today since Merdeka.
Recently, civil servants were given a substantial increase in their remuneration and needless to say the pension will also be reflective of these higher pay for civil servants.
Even miserly Singapore had realised the contribution of its pioneer civil servants from 1965 onwards and rewards them with various benefits.
Recently, Indian Prime Minister Narendra Modi announced Rs 5 lakh medical insurance scheme for its senior citizens apart from various other existing benefits.
Malaysia is certainly much better off than India in socio-economic terms. Surely, Malaysia can afford to reward its poor senior citizens in various ways, instead of giving token benefits like lower train and bus ticket fare, or special counters for seniors in government departments.
Malaysia is possibly the stingiest country when it comes to providing monetary assistance to its senior citizens.
If the government can plug its financial leaks, inflated procurement rates, unnecessary and wasteful expenditure, corruption and other abuses that drain the country of billions of ringgit every year, much help including a reasonable pension scheme can be provided for senior citizens.
Many senior citizens especially from the B40 group become very emotional at the way the nation is treating its elderlies.
Apart from the Bantuan Sara Hidup (BSH) which offers petty amounts, there is nothing, not a single sen, that senior citizens can look forward to.
Most of the senior citizens are plagued with medical problems and the government is not doing anything substantial to ease their plight. Medical fees have spiralled out of control and even the working population is finding it extremely difficult to pay for medical insurance or medical fees for surgery or treatment.
It is cruel on the part of the government to do little or nothing to alleviate the hardship of its senior citizens.
Many would rather cope with the pain and discomfort or join long queues and delayed treatment in government hospitals as they dare not opt for private healthcare with its astronomical costs.
A more caring government could opt for a separate wing in every major government hospital for geriatric care by appointing some experienced doctors and specialists on a scheduled basis.
It is time the government got rid of the MySalam insurance scheme as it is not working for it intended purposes. It was a foolishly conceived insurance scheme that only benefited Great Eastern insurer which was given a regulatory waiver of more than RM2 bil that it was supposed to pay the government.
The cut-off age to qualify for the inadequate coverage of MySalam is 65 years. What is the point of this kind of insurance when it cuts off coverage at the most vulnerable time for senior citizens?
This ill-conceived insurance was the “brainchild” of former finance minister Lim Guan Eng. The government needs to replace the MySalam insurance scheme with one that has more useful comprehensive coverage and not exploitative against senior citizens and others.
The government needs to conduct an in-depth study on how best a national insurance schemes can benefit all citizens by looking at foreign models.
Recently, the government had brought up the issue of an inheritance tax. This the most urgent thing the government has to do.
Most of the millionaires, multi-millionaires and billionaires have taken advantage of the capitalistic system since Merdeka to accumulate wealth unfairly using low wages, government connections and exploiting the economic system to amass wealth.
The poor workers on the other hand have been subjected to subsistence level wages, which did not allow for savings, educating their children to tertiary levels, buying a house or other properties to help them during their old age.
In Malaysia the rich are getting richer and the poor, poorer. Recently, I read an article by a Malaysian writer that shockingly revealed that 50% of the nation’s wealth is in the hands of the super-rich 1%.
This is the reason why there is a continuing widening gap between the rich and poor, according to the GINI index.
A hefty inheritance tax on the very rich will have a beneficial effect on government revenues, and it should be used fruitfully – not wastefully on unnecessary allocations – to aid the senior citizens through better medical care, pension and other benefits. – Oct 16, 2024
V. Thomas is a Focus Malaysia viewer.
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
Main image: Malaysia Population Research Hub – LPPKN
