KUALA LUMPUR: The government's white paper on preparing for an aged nation, initially scheduled for tabling in the Dewan Rakyat this year, has yet to get Cabinet approval, says Economy Minister Akmal Nasrullah Mohd Nasir.
He said the government was aiming to table it with the National Ageing Blueprint 2045 (NAB 2045) in the current sitting, the last for the year.
"The white paper on preparing for an aged nation, together with the blueprint, is planned to be tabled in the Dewan Rakyat after obtaining Cabinet approval," he told Datuk Seri Dr Zaliha Mustafa (PH-Sekijang) during Question Time on Monday (Oct 5).
On Jan 28, he told the House the government was committed to tabling the white paper this year.
He said Malaysia became an ageing nation in 2021, when people aged 65 and above made up 7% of the population.
The share is projected to reach 14% in 2048 and 20% around 2060, the thresholds for aged and super-aged nations, he said.
He said the shift from ageing to aged nation would take Malaysia about 27 years.
"In comparison, the same transition took 115 years in France, 73 in Australia and 69 in the United States," he said.
Akmal Nasrullah said Malaysia was also ageing at a lower income level than developed countries were at the same stage.
"This leaves a more limited window to strengthen the country's preparedness," he said.
He said the demographic change had brought challenges including slower labour force growth, insufficient retirement savings, and rising healthcare and care needs.
These had to be tackled while maintaining productivity and keeping public finances sustainable, he added.
He said NAB 2045 covered economic development, employment, education and skills, social protection and financial security, health and long-term care.
On the silver economy, Akmal Nasrullah said the government saw it as a potential new source of growth.
"Measuring its contribution to gross domestic product requires consistent definitions, scope and statistical methods because these activities cut across various sectors," he said.
The government would look into developing specific indicators with agencies including the Statistics Department before setting baseline figures and targets, he added.
