KUALA LUMPUR (Sept 25): Malaysia must prioritise establishing income security in later life to safeguard its citizens against old age poverty as the country grapples with an ageing population, according to an expert.

Senior research officer at the Malaysian Research Institute on Ageing (MyAgeing), Universiti Putra Malaysia (UPM), Chai Sen Tyng said reforming the pension system is essential to ensure older citizens maintain financial independence and dignity.

“I'm not necessarily saying that we need to have a social pension, but I think we need to have the public narrative around how we can reform our pension system, especially for someone who has worked his or her whole life.

“There will always be a sum of money available to them, whatever is a basic minimum amount or bare minimum amount, so that they do not have to worry about whether it will last,” he said during Bernama TV's "The Nation" programme, promoting the “International Social Well-Being Conference (ISWC 2026) on Friday.

Chai also said that Malaysia is experiencing population ageing driven by falling fertility rates coupled with increased life expectancy.

He noted that the traditional life structure of study, work and retirement is evolving, giving rise to "third agers", referring to individuals who have retired from their primary occupations but remain healthy and capable of contributing to the economy.

To adapt to this shift, Chai advocated structural policy adjustments, including retraining and reskilling opportunities for mature workers and implementing phased re-employment models similar to those established in countries such as Singapore and Japan.

Addressing the broader long-term care ecosystem, Chai said Malaysia needs to distinguish between medical care and long-term care, which helps older people live as independently as possible without having to rely on institutional care or others.

He said while the market is beginning to explore services such as day care centres for the elderly and dementia care centres, such services require regulation and financial support to ensure accessibility and affordability.

“We do need laws to protect against elder abuse and neglect. We also need structures to promote long-term care, as well as pension reforms. These are very difficult questions to address in a short period of time, but we must take that first step,” Chai said.

The topic will be among the issues highlighted at the upcoming ISWC 2026, organised by the Employees Provident Fund (EPF) from Sept 29 to 30 at the Shangri-La Hotel, Kuala Lumpur.

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