KUALA LUMPUR, Sept 30 — Malaysia now faces four priorities as Malaysians are expected to live longer lives, including shifting from just thinking about having money for retirement to having income for the remaining years, the Employees Provident Fund (EPF) CEO said today.

EPF CEO Ahmad Zulqarnain Onn noted that longevity is one of the biggest defining forces that will impact Malaysia, including its society and economy.

Based on experts who spoke at EPF’s International Social Wellbeing Conference 2026 (ISWC), Zulqarnain noted that the longevity policy or policy for longer lives would cover many areas such as labour markets, healthcare systems, digital systems, infrastructure and communities.

“Income security, health, care, work, and community all shape how well people live longer lives,” the retirement savings fund’s CEO said in his closing remarks at the two-day ISWC 2026 here.

He also said the responsibility for this must be shared by all, including individuals, families, employers, communities and the government.

He noted that speakers have spoken about the need for the government to play a stronger role especially for long-term care and basic income security.

“Individuals also have a part to play by preparing early, saving consistently, and making informed choices along the way. And employers have a role too, through the wages that they pay, the flexibility that they provide, and the opportunities they create for all the workers to stay economically active,” he said.

Noting that those at the conference have spoken about the need for Malaysia’s pension system to evolve, Zulqarnain said: “And as people live longer and patterns of work change, reform will be necessary to strengthen coverage, adequacy, equity and the sustainability of retirement income over a longer life.”

He then concluded by listing four priorities for Malaysia, including moving away from EPF members’ preference for lump sum withdrawal of retirement savings to a system of ensuring income to last one’s entire life.

“So one of the challenges that we face as a system is how do we move from saving for retirement, to securing income for life? We must help members convert a lifetime of savings into a reliable income stream that lasts as long as they do,” he said.

Currently, EPF members already have the option to withdraw their EPF savings via monthly payments under the i-Emas scheme, instead of withdrawing all their savings in one lump sum.

The monthly withdrawal method helps EPF members’ retirement savings last longer, as their remaining savings can continue to grow and provide them with dividends every year.

During the two-day conference, speakers spoke about about proposed methods and examples abroad that would enable people to continue to have income after retirement beyond what they have saved up, including through monthly payments via annuity insurances or variable annuities.

Secondly, Zulqarnain said there is a need to close the coverage gap, as currently only 60 per cent of Malaysia’s workforce have savings in the EPF.

“Many people who do hard work every single day in the informal sector - gig workers, older workers, and women whose caregiving responsibilities shorten their working years are too often excluded and remain without adequate protection.

“So, closing these gaps is going to require coordinated action,” he said.

Thirdly, there is a need to stand with EPF members throughout the course of their entire life and not just on retirement day, which means engaging with them even before retirement.

“This means engaging earlier and more consistently, working with partners across health, housing, elderly care, and also introducing change gradually and transparently so that public trust remains strong,” he said.

“And fourth and finally, we must continue to advocate for labour market reforms that result in better wages for the workers of Malaysia,” he said.

Noting that a lot of work remains, Zulqarnain said EPF cannot work alone on these issues and that it will take a community of leaders to work together to ensure progress on these topics.

The ISWC, which is themed “The Long Horizon” this year and in its 13th edition, had seen international and local experts speak on wide-ranging issues covering retirement savings and financial security, healthcare and long-term care, active and purposeful ageing, age-inclusive communities, intergenerational support and policy reforms.