PETALING JAYA: Age-friendly environments, national pension system and better mental health services are some measures to support Malaysia’s fast-ageing society by 2060, say experts on the matter.
They call for these measures to prepare for the projected population in Malaysia, which will see a staggering increase in those aged 80 and above.
Malaysian Healthy Ageing Society president Prof Dr Shahrul Bahyah Kamaruzzaman called for regulated nursing and assisted living facilities to provide seniors with safe and supportive environments that promote their independence.
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“Support should be given to community-based programmes that promote social interaction and prevent isolation among older adults to improve mental health and well-being,” she added.
General Insurance Association of Malaysia chief executive officer Chua Kim Soon said social and mental health support should be strengthened to support an ageing nation, aside from improving age-friendly facilities.
“Efforts should be made to scale up community networks, counselling services, and senior activity centres to reduce isolation and support mental well-being,” he said.
Universiti Putra Malaysia’s Malaysian Research Institute on Ageing senior researcher Chai Sen Tyng said the country needs to commit to pension reforms.
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“This includes public and private sector employment-based pensions. We need to convert a portion of retirement savings into minimum pension with a longevity guarantee,” he said.
A longevity guarantee is a guaranteed income stream, usually for life, which can be a crucial element in retirement planning, added Chai.
Sunway University economics professor Dr Yeah Kim Leng said if a national pension system were to be in place, it would have to cover all Malaysians to avert a future ageing crisis.
For contribution schemes in the private sector such as the Employees Provident Fund (EPF), the retirement savings withdrawal scheme needs to be redesigned to include a monthly withdrawal that is akin to the pension scheme for civil servants.
“The EPF scheme which currently covers roughly 60% of private sector employees also needs to be expanded to cover all workers, especially the self-employed and others in the informal sector.
“To ensure the pension scheme is able to provide adequate income security, part of the funding for the scheme will have to come from the government,” added Yeoh.
On housing for the elderly, Chai said having retirement villages and assisted living facilities are good, but it could be expensive and Malaysians are increasingly facing cost of care issues in later life.
“Our home-based and community-based aged care services are still underdeveloped,” he said.
“At present, long-term care costs are all borne out-of-pocket. This is not a sustainable condition as families shrink and default assumptions of filial responsibilities may no longer be available,” he added.
Malaysian Medical Association president Datuk Dr Kalwinder Singh Khaira said the government must act now to ensure Malaysians not only live longer but also age healthily and independently.
“This is starting with a national commitment to preventive healthcare and healthy living.
“We need stronger public health initiatives that promote active lifestyles, balanced nutrition, mental wellness, and regular health screenings from a younger age,” he said.
