KUALA LUMPUR, Oct 5 — Malaysia has only about 27 years to make thorough preparations for the transition to an “aged nation” status by 2048, a transition period that is significantly faster than that experienced by several developed nations.
Economy Minister Akmal Nasrullah Mohd Nasir said that this short timeframe leaves the government with limited time to strengthen national preparedness, contrasting sharply with 115 years for France, 73 years for Australia, and 69 years for the United States.
He noted that Malaysia officially attained “aging nation” status in 2021, when the population aged 65 and older reached seven per cent of the total population.
“Based on current projections, Malaysia is expected to reach ‘aged nation’ status by 2048, when the percentage rises to 14 per cent, and subsequently become a ‘super-aged nation’ by 2060, when it hits 20 per cent.
“The country’s experience with aging also faces unique challenges because our income levels are lower compared to developed nations when they underwent the same transitional phase,” he said during the oral question-and-answer session in the Dewan Rakyat today.
Akmal Nasrullah was responding to a question from Dr Zaliha Mustafa (PH-Sekijang), who sought an update on the status of the National Aging Blueprint (NAB) 2025-2045 set to be tabled in the Dewan Rakyat and the government’s preparedness to address the demographic challenges of an aging society.
Elaborating further, he noted that this demographic shift presents various challenges, including slowing workforce growth, insufficient retirement savings, and a sharp rise in the demand for healthcare and elderly care services.
To address these issues, he said NAB is currently in the final stage of government review before the White Paper on Preparation for Becoming an Aged Nation is tabled in the Dewan Rakyat during the current session.
Responding to a supplementary question from Dr Zaliha regarding a proposal to establish a district rejuvenation pilot zone in the Sekijang parliamentary constituency where 10.8 per cent of the population is aged 60 and above, Akmal Nasrullah said the government is willing to consider implementing the project in affected areas.
He acknowledged that the trend of young people migrating to major cities accelerates the aging process in specific localities, and that urban management approaches as well as recreational tourism planning for the elderly require specific re-examination.
Meanwhile, in response to a supplementary question from Salamiah Mohd Nor (PN-Temerloh) regarding the role of youth, Akmal Nasrullah stated that the “silver economy” or the economy catering to the elderly has the potential to create new business and employment opportunities for young people through sectors such as elderly care, health technology, and digital services.
Consequently, he noted that the Ministry of Economy, together with the Department of Statistics Malaysia (DOSM) and relevant agencies, is formulating specific indicators to accurately measure the silver economy’s contribution to the Gross Domestic Product (GDP). — Bernama
