KUALA LUMPUR: An academician has called for a review on policies to provide a better social support system for Malaysia’s ageing population.
An article written by the director of Social Well-being Research Centre (SWRC), Prof Datuk Norma Mansor, titled ‘Ageing and Retirement: Perceptions and Expectations among Malaysians’ stated that the number of Malaysians aged 60 and above is projected to reach 3.5 million in 2020 and 6.3 million in 2040, which is about 20 per cent of the total population.
The SWRC, located at Universiti Malaya, receives an endowment fund by the Employees Provident Fund (EPF) in support of the centre’s mission to spearhead research work towards social protection for Malaysians.
The article, published in a booklet produced by EPF (titled ‘Social Protection, Insight, A Better Tomorrow’) in 2018, suggested that Malaysians will have at least 15 years to live after retirement, and more of them will depend on savings, pensions and EPF contributions for sustenance in their twilight years.
In an interview with Bernama recently, Norma said that this development needs a structured and stable support system that promotes social well-being and happiness.
“Changes in policies should lead to the achievement of ‘Happy Nation’, a term coined by a United Nations research group led by American professor, Jeffrey Sachs, when studying sustainable development goals.
“It includes how you feel about your freedom, corruption index and governance issues in the country. It’s a more definite concept for the government to use to upscale and improve the existing economic and social policy for them to draw necessary support system for individuals to live happily as they age,” said Norma.
Malaysia is ranked at number 35 in the World Happiness Report 2018, compared to Singapore at number 34.
Norma said that the recently-announced Caruman Sukarela Insentif Suri (i-Suri) is a step in the right direction, as it promotes inclusiveness.
“To turn it into a comprehensive social protection, however, the new policy could also consider covering pregnant mothers from underprivileged families.
“I also believe that the new government should be given ample time to review the policy as they are currently facing fiscal issues,” said Norma.
Norma stressed that while the government is responsible for policy design and implementation, the onus to effect social change also lies with individuals and their employers.
“The challenge is to map out the existing policies and see what is missing (in order) to benchmark it with universal standards,” she said. — BERNAMA