Anwar with (from left) former prime minister of Sweden Fredrik Reinfeldt, Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar, Finance Minister II Datuk Seri Amir Hamzah, Mohd Zuki, Ahmad Zulqarnain and Prof Standing at the ISWC 2025 at Shangri-la Hotel, Kuala Lumpur. — AZHAR MAHFOF/The Star
WHAT if the real challenge of living to 100 isn’t longevity—but how we prepare for it?
That thought-provoking question anchored the International Social Wellbeing Conference (ISWC) 2025, which concluded with a clear message: Malaysia must urgently reimagine its social and economic systems to meet the demands of longer lives.
Held under the theme “Living to a Hundred: Are We Prepared?”, the two-day event drew over 2,000 participants, 25 strategic partners, and global experts to explore how longer life expectancy can become a shared opportunity rather than a personal risk.
Rethinking ageing in Malaysia
In his keynote address, Prime Minister Datuk Seri Anwar Ibrahim urged Malaysians to face the profound implications of demographic change head-on.
“We must begin building a system that reflects greater solidarity, especially for those with limited lifetime earnings. No Malaysian should grow old in fear—fear of poverty, fear of abandonment, or fear of irrelevance.”
He praised the Employees Provident Fund (EPF) for its efforts in reforming retirement systems and financial innovation, citing initiatives such as intergenerational savings transfers.
“As more people live longer, healthier lives, retirement systems must evolve. We need to move from lump-sum withdrawals to sustainable retirement income,” Anwar added.
EPF chairman Tan Sri Mohd Zuki Ali underscored that Malaysia’s ageing population is no longer a distant issue: by 2043, 14% of the population will be over 65.
“Older individuals aren’t just recipients of care. They’re contributors, consumers, caregivers, and mentors,” he said.
Mohd Zuki called for Malaysia to tap into the growing longevity economy—encompassing healthcare, housing, financial services, education, and age-friendly technologies. “Our policies must empower people to continue participating meaningfully in society well into later life.”
He pointed to the GEAR-uP initiative, a key component of the Ekonomi Madani framework, as a strategic push to stimulate domestic investment.
Under this initiative, the EPF is strengthening its role in critical sectors like sustainable healthcare —vital to supporting an ageing society. These efforts align with broader social protection reforms, ensuring that both the financial, physical and social needs of older Malaysians are addressed.
“This is not just a public policy imperative - it’s also a private sector opportunity for innovation and job creation,” Mohd Zuki said, adding that the rise of the longevity economy - driven by the contributions, consumption, and lived experience of older adults - presents a powerful opportunity for innovation.
“It goes beyond pensions and healthcare. It influences how we design our cities, structure our workforces, develop inclusive technologies, and foster lifelong learning and active ageing.”
Building resilience for a longer life
EPF chief executive officer Ahmad Zulqarnain Onn highlighted that 58% of working-age Malaysians remain outside any formal retirement scheme.
“We must reimagine how we work, save, age, and care across every sector. The question, ‘If we live to 100, are we prepared?’, is not theoretical. It demands action now,” he said. Ahmad Zulqarnain called for wide-ranging reforms, including fairer living wage, closing gender gaps, aligning withdrawal ages with retirement realities, exploring decumulation strategies, and reducing dependence on lump-sum withdrawals.
EPF’s Retirement Income Adequacy (RIA) Framework now allows members to benchmark their savings across Basic, Adequate, and Enhanced tiers. A new intergenerational transfer feature will soon enable family members to support each other’s retirement planning.
Meanwhile, the i-Saraan programme, which supports gig and informal workers, recorded a 38% increase in participation last year, enabling more informal sector workers to save for retirement. Total i-Saraan contributions also saw significant growth, rising by 83% from RM1.44bil in 2023 to RM2.64bil in 2024.
“Planning for longevity starts with an honest understanding of what it takes to live a long, meaningful life with dignity,” he said.
Global perspectives presented at ISWC highlighted both the challenges and opportunities in addressing the evolving needs of today’s labour market. Basic Income Earth Network founder Prof Guy Standing underscored the importance of designing stronger protections and support for the “precariat”—a growing class of gig and part-time workers that require greater security and inclusion.
“Insecurity is a pandemic in itself. It erodes mental bandwidth, disrupts planning, and leaves millions unable to cope with shocks,” he said, urging governments to rethink exclusionary systems that leave vulnerable groups unprotected.
Similarly, the World Economic Forum’s longevity economy lead Haleh Nazeri called for a fresh approach to financial education.
“It’s a huge ask for individuals to grasp and act on complex financial information,” she said. “We need to simplify and even gamify it through collaboration between service providers, government, and civil society.”
A future for all generations
The core message from ISWC 2025 was resounding: longevity should not be treated as a private burden, but as a collective responsibility.
It is an opportunity to reshape Malaysia’s economic, healthcare, and social infrastructure to support longer, healthier lives.
From inclusive pension system design and digital inclusion to the longevity economy and future-ready urban planning, Malaysia’s path forward must be grounded in bold, coordinated reform.
Policy enhancements and strategic interventions are essential to preparing the younger generation for the challenges of longer life expectancy. They are key to empowering senior adults to lead meaningful and independent lives as the nation unlocks the contributions of all generations to drive progress and build a more resilient, inclusive society.
The age of longevity has arrived. It affects us all. Now is the time to act.
