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A Silver Lining - Productive and Inclusive Aging for Malaysia (English)

In 2020, Malaysia passes a crucial milestone in its demographic trajectory and becomes an aging society. Driven by a precipitous decline in fertility accompanied by a sustained rise in life expectancy, in recent years Malaysia has seen an uptick in the pace of demographic change. Rapid aging will be one of the most crucial megatrends affecting Malaysia in coming decades, raising policy challenges in areas such as employment, income security, health care, and aged care. The term silver economy has been coined to encompass all sources of opportunities that arise from economic activities that serve the needs and demands of older persons. While rapid aging is crucially important and will become even more so in coming decades, through the right choice of policies, the government of Malaysia can help the country achieve productive and inclusive aging. The Coronavirus (COVID-19) pandemic has resulted in an unprecedented crisis with an enormous health and human toll, as well as exacerbated many of the policy challenges raised by aging both in the short term and more structurally. The report analyzes Malaysia’s demographic, socioeconomic and macroeconomic contexts, as well as three select key policy areas where critical knowledge gaps exist–employment, income security, and aged care.

Details

  • Author

    Schmillen,Achim Daniel, Wang,Dewen, Yap,Wei Aun, Bandaogo,Mahama Abdel Samir Sidbewende, Simler,Kenneth, Binti Ali Ahmad,Zainab, Abdur Rahman,Amanina Binti

  • Document Date

    2020/11/22

  • Document Type

    Report

  • Report Number

    154520

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Malaysia,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2020/11/23

  • Disclosure Status

    Disclosed

  • Doc Name

    A Silver Lining - Productive and Inclusive Aging for Malaysia

  • Keywords

    old person; aged care; female labor force participation; employment rate of woman; good quality of life; activities of daily living; Alzheimer's Disease; gender gap in employment; total factor productivity growth; united nations population fund; per capita income threshold; primary health care services; early stage of development; active labor market policy; Active Labor Market Policies; life expectancy at birth; average number of child; civil service pension system; old-age dependency ratio; minimum withdrawal age; older worker; old-age income security; social assistance program; share of woman; social insurance scheme; qualitative field research; increase tax revenue; decline in fertility; forms of employment; female life expectancy; total fertility rate; population growth rate; burden of taxation; low health expenditure; public private partnership; health child; social service provision; poverty incidence curve; share of labor; social protection system; education and gender; status in employment; entire labor force; infrastructure and services; new market entrant; choice of policies; public health care; living alone; working age people; gender wage gap; unpaid family worker; challenges for woman; service delivery models; Population Age structure; privileges and immunity; vulnerable population group; savings for retirement; poverty line income; rates of unemployment; quality of growth; improvements in health; productive working life; person with disability; political economy considerations; depth of poverty; healthy life expectancy; labor market participation; slow population growth

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Citation

Schmillen,Achim Daniel Wang,Dewen Yap,Wei Aun Bandaogo,Mahama Abdel Samir Sidbewende Simler,Kenneth Binti Ali Ahmad,Zainab Abdur Rahman,Amanina Binti

A Silver Lining - Productive and Inclusive Aging for Malaysia (English). The Malaysia Development Experience Series Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/287981606116408851/A-Silver-Lining-Productive-and-Inclusive-Aging-for-Malaysia