Prime Minister Datuk Seri Anwar Ibrahim said the government will come up with measures to protect pensioners, following the Federal Court’s decision which invalidated amendments to the pension law. Anwar, who is also Finance Minister, said the government is working on the details of the mechanism and will make an announcement soon.
“We’ll deal with it. We have to respect the decision of the Federal Court. We are having a mechanism to protect pensioners and will announce it soon,” he told reporters after launching the International Social Wellbeing Conference 2023 here today.
On June 27, the Federal Court ruled that legal amendments made in 2013, which introduced a new pension scheme that adjusts pension payments every year by a two per cent increment, were less favourable to pensioners and unconstitutional. The decision meant that the older version of the law containing the old pension adjustment scheme would be restored.
