KUALA LUMPUR, July 31 (Bernama) — The government has set four targets in the 13th Malaysia Plan (13MP) as part of its preparation for the country’s transition to an aging country by 2043.
The four targets listed in the 13MP document issued by the Economic Affairs Ministry today are a 1.1 per cent population growth rate, 50,000 skilled caregivers, a 38 per cent workforce participation rate for individuals aged 60 to 64 and three new commercialised products in terms of medical gadgets and support equipment for the elderly, all by 2030.
Preparation for Malaysia’s transition to an aging country is a priority in 13MP and will be intensified by four strategies, creating a long term care (LTC) ecosystem, preparing the job market, skills and education, adapting physical priorities and improving social protections and boosting elderly welfare.
Legal provisions and governance regarding LTC will be introduced to develop a sustainable LTC ecosystem, aimed to ensure uniform policies and regulations across agencies to ensure quality LTC services that are affordable and accessible, with a specific entity to supervise the ecosystem, including childcare centres, the disabled and the elderly, along with religious learning centres that prepare housing facilities.
Under the plan, local authorities will be encouraged to develop action plans to expand the provision of LTC services at the local level.
Also, the Minimum Retirement Age Act 2012 and related acts and regulations will be reviewed, along with suggestions of raising the age of mandatory retirement for civil service, under 13MP, which also encourages the implementation of the Flexible Working Arrangements Guidelines to provide adaptability to workers with obstacles to working based on existing arrangements.
More elderly-friendly infrastructure will be prepared with the assistance of the private sector, along with comprehensive and inclusive improvements to the social protection system to raise the efficiency of assistance and effectiveness of public expenditure.
Focus will also be on efforts to reform the Employees’ Provident Fund (EPF) to ensure sustainable retirements and adequate savings, while a specific digital platform will be developed to encourage cash transfers from children to parents to ensure their well-being after retirement age.
The 13MP document also highlights the creation of one-stop centres with technology-based solutions for aging communities through the coming together of industry expertise and local researchers.
Such centres will focus on the production and commercialisation of medical gadgets, support equipment and nutritional supplements for the elderly, which will raise the country’s potential as a global technology hub for support system development using the latest technology and innovation for the betterment of the elderly.
— BERNAMA
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