KUALA LUMPUR — Reaching 60 does not automatically mean clocking out for good, drawing a pension, or qualifying for welfare. Depending on your circumstances, Budget 2027 packs a variety of measures that impact older Malaysians differently.

Whether you are still in the workforce, managing your retirement, or navigating the rising costs of elder care, the latest federal Budget has something for you.

Here is a breakdown of what Malaysians aged 60 and above stand to gain.

Budget 2027 increases the combined allocation for Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) to a massive RM16 billion.

SARA assistance of up to RM150 a month, or RM1,800 a year, will now reach all eligible STR recipients, benefiting up to nine million Malaysians.

Separately, the government will extend a special SARA Madani assistance of RM100, paid twice a year, to eligible adults who do not qualify for STR. Expect these payouts just before Hari Raya Aidilfitri and the 70th Merdeka celebrations, giving recipients a handy RM200 boost.

Higher individual income tax relief and lower rates

For older Malaysians still earning an income, the government plans to increase individual income tax relief from RM9,000 to RM12,000 starting from Year of Assessment 2027. Naturally, this only benefits those with taxable income.

The Budget also cuts one percentage point off individual income tax rates for specific brackets. Chargeable income between RM70,001 and RM100,000 drops from 19 per cent to 18 per cent. Meanwhile, the RM100,001 to RM150,000 tier falls from 25 per cent to 24 per cent.