Kuala Lumpur:Malaysia has a limited timeframe of approximately 27 years to prepare for its transition to an "aged nation" by 2048, a transition period notably shorter than that experienced by several developed countries.
According to BERNAMA News Agency, Economy Minister Akmal Nasrullah Mohd Nasir emphasized the urgency of strengthening national preparedness. Malaysia's transition period contrasts with the significantly longer timelines of 115 years for France, 73 years for Australia, and 69 years for the United States.
Malaysia reached "ageing nation" status in 2021 when the portion of the population aged 65 and older hit seven percent. Projections indicate that by 2048, this figure will rise to 14 percent, making Malaysia an "aged nation," and by 2060 it will become a "super-aged nation" with 20 percent.
The minister highlighted unique challenges faced by Malaysia, given its lower income levels compared to developed nations at similar stages. He addressed these issues during a session in the Dewan Rakyat, responding to Dr. Zaliha Mustafa's inquiry about the status of the National Ageing Blueprint (NAB) 2025-2045 and government preparedness for demographic challenges.
Akmal Nasrullah identified challenges such as slowed workforce growth, inadequate retirement savings, and increased demand for healthcare and elderly services. He mentioned that the NAB is in the final review stage before the White Paper on Preparation for Becoming an Aged Nation is tabled in the Dewan Rakyat.
In response to Dr. Zaliha's suggestion for a district rejuvenation pilot zone in Sekijang, where 10.8 percent of the population is aged 60 and above, the government is considering the project's implementation. The trend of youth migration to cities exacerbates ageing in specific areas, necessitating a reevaluation of urban management and recreational tourism for the elderly.
Addressing a question from Salamiah Mohd Nor about youth involvement, Akmal Nasrullah noted the potential of the "silver economy" to create opportunities in sectors like elderly care, health technology, and digital services. The Ministry of Economy, along with the Department of Statistics Malaysia and relevant agencies, is developing indicators to measure the silver economy's GDP contribution.