In the spotlight: Anwar flanked by Amir Hamzah (left) and Mohd Zuki at the launch of ISWC 2025 in Kuala Lumpur. Also with them are Ahmad Zulqarnain (right) and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. — AZHAR MAHFOF/The Star
KUALA LUMPUR: It is the government’s vision that no Malaysian should grow old in fear of poverty, abandonment or irrelevance, says Datuk Seri Anwar Ibrahim.
The Prime Minister said embracing a long life of quality and dignity requires a sustainable longevity economy that safeguards the healthcare and well-being of the people.
He said older Malaysians are healthier, more educated and capable than ever nowadays and with the right support, they can continue contributing through work, mentorship or community service.
He added that since longevity requires a transformation of society, there should be policies to ensure that it is sustainable.
According to a study, the average Malaysian can expect to live to age 76, but not before suffering nine years of poor health, Anwar said, meaning that after age 67, their health goes downhill with a reduced quality of life.
“This gap has not improved over the past two decades. In fact, it has widened from 8.6 years in 2000.
“This means living longer does not guarantee that we are living better,” Anwar said in his speech at the launch of the International Social Wellbeing Conference 2025 (ISWC 2025) themed “Living to A Hundred: Are We Prepared?” held at the Shangri-La Hotel here yesterday.
Also present were Finance Minister II Datuk Seri Amir Hamzah Azizan, EPF chairman Tan Sri Mohd Zuki Ali and EPF chief executive officer Ahmad Zulqarnain Onn.
Anwar stressed that this is a wake-up call to place more emphasis on investing in health, especially in preventive care, public health education and community-based support.
“We must ask if our institutions, our policies and our thinking are prepared for this shift. As our lifespans lengthen, we must rethink how we sustain our personal well-being, how we plan our economy and how we preserve the fabric of a cohesive, caring society.
“The idea of living to 100 did indeed seem remote once,” said Anwar.
“According to the United Nations World Population Prospects database, Malaysia had fewer than 10 centenarians in the early 1970s.
“Today, we have more than 1,000 and it is more than likely that the number will continue to grow,” he added.
He also pointed out that a longer life raises expenditure for individuals, families and governments, adding that tackling this challenge starts by ensuring that fair wages are paid out.
“A long life must be matched by decent wages, dignified work and a fair share of national prosperity. However, fair wages alone are not enough.
“We must strengthen our social protection system to prepare for longer and more complex lives,” he noted.
Anwar also commended the Employees Provident Fund (EPF) for taking steps to explore new approaches to enhancing retirement adequacy.
According to EPF chairman Mohd Zuki, the demographic transformation of Malaysia’s ageing society will have a profound effect on the healthcare system, workforce and social fabric.
However, he said, older individuals are not simply recipients of care – they are contributors, consumers, caregivers, volunteers and mentors.
“Longer lives also open up new frontiers. The rise of the longevity economy, shaped by the contributions, consumption and experience of older adults, is an opportunity for innovation.
“It extends beyond pensions and healthcare to encompass how we design cities, structure workforces, build inclusive technologies and promote lifelong learning and active ageing.
“As such, our policies and systems must empower them to continue participating meaningfully in society, well into later life,” he said.
As of 2023, 7.5% of Malaysians were aged 65 and above. This number will nearly double to 14% in 2043, and by 2058, more than one in five Malaysians will be 65 or older.
To address this, the EPF is advancing pension system reforms and financial innovation.
“We recognise that financial security is the bedrock of meaningful retirement. Planning for longevity starts with an honest understanding of the income required for a long and fulfilling life,” Mohd Zuki said.
“We also acknowledge that retirement readiness is no longer an individual pursuit but a shared responsibility among families.
“In this spirit, a new inter-generational savings transfer feature will be introduced by the end of this year, allowing family members to contribute to each other’s retirement security,” he added.
“This reflects a more collaborative approach to long-term financial planning.”
The event is jointly organised by the EPF, the Implementation Coordination Unit of the Prime Minister’s Department and the Finance Ministry.
It aims to catalyse ideas and policies on the longevity economy.
This year’s ISWC features former Swedish prime minister Fredrik Reinfeldt, Basic Income Earth Network founding member and honorary co-president Prof Guy Standing, World Economic Forum Lead in Longevity Economy Haleh Nazeri and Sunway Centre for Planetary Health director Tan Sri Jemilah Mahmood.
