Kuala lumpur: FWD Takaful and HSBC Amanah have announced the launch of Takaful Future Income, a Long-Term Takaful Family Savings plan designed to aid Malaysians in achieving a secure retirement. This new solution arrives as Malaysia faces a demographic shift towards becoming an aged nation.

According to BERNAMA News Agency, the Department of Statistics Malaysia (DOSM) has indicated that Malaysia is rapidly moving towards an aged society. In 2024, 11.6% of Malaysians were aged 60 and above, with projections of this figure rising to 17.3% by 2040 and 23.4% by 2050. This demographic change underscores the necessity for improved retirement planning, as financial concerns are prevalent among Malaysians. Recent studies show that 66% of Malaysians may need to delay retirement due to financial obligations, with inflation and rising healthcare costs affecting 83% of the population.

In response to these concerns, FWD Takaful and HSBC Amanah have developed Takaful Future Income to offer a shariah-compliant retirement income solution and protection. Aman Chowla, Country CEO of FWD Malaysia, emphasized the importance of providing simple, accessible, and dependable solutions for Malaysians who are living longer. The plan is designed to offer a steady stream of retirement income and protection for loved ones, ensuring financial peace of mind.

Linda Yip, Country Head of International Wealth and Premier Banking at HSBC Bank Malaysia, noted that the new product caters to HSBC Premier customers who seek to maintain their quality of life into their retirement years. Takaful Future Income provides a Shariah-compliant solution with triple protection and rewards for long-term commitment, helping customers preserve their desired lifestyle in their golden years.