Categories: News

Govt to address impact of ageing population on poverty eradication efforts

by AUFA MARDHIAH

THE government is set to present a critical report to Parliament and the nation, highlighting the growing challenge posed by Malaysia’s ageing population.

Economy Minister Rafizi Ramli said Malaysia is undergoing a process of becoming an ageing society, with the economic conditions not fully equipped to support this demographic shift.

“One major concern is that many individuals, who were not considered poor during their working years, may face financial hardships after retirement, with longer life expectancies extending to 80 to 90 years.

“This reality leaves them with an additional 30 years to live on limited financial resources, compounded by rising healthcare costs,” he said at the launch of National Symposium 2024: Eradicating Poverty today.

The phenomenon, according to him, is expected to complicate efforts to eradicate poverty, particularly given the country’s economic achievements, which lag behind developed nations that have faced this issue earlier, such as Japan and various European countries.

In response, the government is seeking to incorporate these concerns into its long-term plans.

Rafizi further highlighted that the upcoming 13th Malaysia Plan (13MP) will prioritise continuous efforts to eradicate poverty, with particular focus on addressing the challenges of an ageing population.

He expressed hope that discussions on policies and strategies in the coming months will serve as valuable input for the 13MP.

Zukri

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