OCM President Tan Sri Mohamad Norza Zakaria suggested the idea as he discussed the 2021 budget set to be tabled by the Malaysian Government this week, as reported by Malay Mail. 

He claimed some athletes who had represented Malaysia at international competitions were now struggling financially, especially during the COVID-19 pandemic. 

Athletes who had competed in World Championships but not the Olympics could also be eligible for the pension.

"The athletes had contributed a lot for the country in the past, but many are facing difficulties now, especially with the COVID-19 pandemic," the OCM President said.

"Some even turned to selling their shoes and medals for cash.

"The Government should find a solution for this."

Mohamad Norza agreed with a recent suggestion by Malaysian Olympians Association President Karu Selvaratnam to provide free medical insurance for national athletes.

He also recommended the Government could impose a "sports tax" on companies to help the sports industry, which has been badly hit by the global health crisis. 

"The Government can help to divert monies to the national sports agenda or programmes from other industries, either a percentage of their profit to be exclusively channelled to sports or something like introducing a sports tax on their profit," said Mohamad Norza, per Malay Mail. 

"Sports has always been a key element in uniting the country - its contributions are huge."

Malaysia first competed as an independent country at the Tokyo 1964 Olympics, and has competed at every Summer Games since. 

In total, Malaysia has earned seven silver Olympic medals and four bronze. 

Nearly half of these came at Rio 2016, including three silvers in badminton, one in diving and bronze in cycling.