KUALA LUMPUR, Oct 23 — The majority of civil servants polled for a study on retirement cited the need to be mentally and physically active as the primary reason for wanting to work after retirement, with income only coming in at the third as the most cited factor.

Malay Mail reported one the same study yesterday that found a significant portion of civil servants intending to work post-retirement. On average, respondents anticipated to retire at the age of 58.16 years, with more than three-fourths saying they plan to retire between the ages of 56 and 60.

The Retirement Strategic Agenda report, prepared by Retirement Fund Incorporated (KWAP) and MyAgeing, an agency under Universiti Putra Malaysia, was released yesterday.

"As a substantial proportion of respondents expressed a desire to never work again during retirement, there is a need for retirement planning programmes that focus on financial preparedness, enabling individuals to retire comfortably without the need for continued employment,” the report said.

From the over 6,200 civil servants surveyed for the report, 82 per cent cited mental activeness as the main motivation to keep working while 72 per cent said staying physically active was the main driver.

Having a source of income came in third, at just over 60 per cent, even as an overwhelming majority (95 per cent) said they would rely on pension as the primary source of old-age income.

Other sources of income include employment-related income (26.2 per cent), income related to property (29.3 per cent), and income given by their children or other family members/heirs (17.3 per cent).

The study also highlighted that slightly more than a tenth of respondents reported uncertainty regarding their sources of income in retirement.

Meanwhile half of respondents cited social wellbeing as a key reason to continue working. Over the years, there is growing awareness about loneliness as a serious mental health problem.

The Malaysia Ageing and Retirement Survey, conducted between 2020 and 2022, sheds light on the prevalence of loneliness and its associated factors among Malaysians aged 40 and older.

Facing new challenges (13.5 per cent) and health insurance benefits (6.1 per cent) rank relatively lower among the factors influencing the decision to work in retirement.