The Defense Ministry anticipates that 732 top officials will accept offers from 2025 to 2027.
PUBLISHED: 9 Jul 2024 at 18: 04
The government approved an early retirement plan for senior military commanders starting at the rank of colonel and upwards, with incentives ranging from 7 to 10 % of their previous monthly pay.
According to assistant state representative Kenika Ounjit, the Ministry of Defense has stated that the program will be implemented over the next three decades.
The program is a component of a strategy to reduce and optimize the military forces in order to be effective. By Sept. 30 the end of the fiscal year and the day condition authorities typically retire, it will be in July of next year.
From the macroeconomic decades 2008 to 2028, the government made a plan to reduce the number of commanders holding the positions of scientists, researchers, and administrative officers by 50 %. It eventually outlined a goal to reduce overall workers by 5 %, from fiscal year 2020 to 2027, said Ms Kenika.
The government has set a goal for 732 officials to take early pension from 2025-27, or 244 per month. This could save 4.48 billion ringgit, said the lieutenant representative.
The main goal is the armed forces ‘ members who hold the ranks of colonel, captain, and team captain or higher, as well as professionals, experts, and operational officers over the age of 50 who have 25 years or more of service and have two years to go.
Recipients will also be given benefits, including 7 to 10 times their final salary plus position allowances, if they choose to, in addition to other benefits.
The government will set off 600 million ringgit for the structure, or 200 million ringgit a year.