Economy minister says just 27 years to prepare for Malaysia’s rapidly ageing population, warns nation will be ‘super-aged’ by 2060
KUALA LUMPUR, Oct 5 — Malaysia has only about 27 years to make thorough preparations for the transition to an &ldq...
Malaysia faces a critical 27-year window to prepare for becoming an "aged nation" by 2048, warned Economy Minister Akmal Nasrullah Mohd Nasir. This accelerated timeline contrasts sharply with other developed nations, who have up to 115 years to prepare. At present, Malaysia has officially reached the aging nation milestone, with the 65 and older population comprising 7% of the total population.
By 2048, this age group is projected to grow to 14%, and then a "super-aged nation" by 2060, when it reaches 20%. Despite lower income levels compared to developed nations during their own transitions, Malaysia must address challenges such as reduced workforce growth, inadequate retirement savings, and increased demand for healthcare and elderly care services.
The National Aging Blueprint (NAB) 2025-2045 is currently under final review to table in Parliament, addressing these challenges. The minister acknowledged that youth migration to major cities exacerbates the aging process in specific areas, necessitating re-evaluation of urban management and recreational tourism planning for the elderly.
The silver economy, catering to the elderly, holds potential for new business and employment opportunities for young people in sectors like elderly care, health technology, and digital services. The Ministry of Economy is developing specific indicators to measure the silver economy's impact on GDP.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
