Working longer for financial adequacy

The Statistics Department said the total fertility rate last year declined to 1.6 children for every woman aged 15 to 49 years compared with 1.7 in 2021.

PETALING JAYA: Malaysia may face a difficult situation of a shrinking labour force as it transits to an ageing society, according to the Statistics Department.

This is also made worse with the decline in the national fertility rate which may also lead to lower growth in productivity, slowdown in economic growth and decline in tax revenues for the government.