Kuala Lampur:Malaysia's pension system requires reforms to ensure lifelong retirement income as life expectancy increases and work patterns change. Employees Provident Fund (EPF) CEO Ahmad Zulqarnain Onn emphasized the need for these changes, highlighting four main priorities for the country.
According to BERNAMA News Agency, Ahmad Zulqarnain stressed the importance of transitioning from a lump sum withdrawal system to securing consistent income for life. He addressed this issue at the International Social Wellbeing Conference (ISWC) 2026, noting that more than 26,000 EPF members had opted for i-Emas upon turning 55 or 60 as of June 2026.
Closing coverage gaps for informal-sector workers, daily wage earners, and older workers is crucial. Ahmad Zulqarnain advocated for earlier engagement and collaboration in health, housing, and elderly care to support members throughout their lives, not just at retirement.
Labour market reforms are also necessary to enhance wages and increase the share of GDP going to labor. He emphasized that longevity considerations should encompass various areas, including labor markets, infrastructure, healthcare, and community development.
Ahmad Zulqarnain called for better coordination to integrate income security, health, care, work, and community, ensuring a higher quality of life for an ageing population. He highlighted shared responsibility among individuals, families, employers, communities, and the government, with the government playing a stronger role in long-term care and basic income security.
An earlier panel at ISWC 2026, moderated by EPF's chief digital technology officer Afhzal Abdul Rahman, discussed integrating healthcare, retirement savings, and other sectors. Panelists, including Naluri group CEO Azran Osman-Rani and Health Ministry Health Transformation Office CEO Dr. Yap Wei Aun, advocated for a holistic approach to support longer lives.
The conference concluded with Alex Sheen of the social movement 'Because I Said I Would', emphasizing personal commitment and accountability in preparing for an ageing society. His message highlighted the importance of individual choices, compassion, and collective responsibility in building communities where people age with dignity and purpose.
ISWC 2026, organized by EPF and the Finance Ministry, gathered global leaders to discuss the future of retirement, ageing, and social protection against the backdrop of worldwide ageing populations. Key topics included rethinking ageing, strengthening care systems, and fostering innovation for ageing societies.