KUALA LUMPUR (June 17): Malaysia must invest in the health and social systems to meet the demands of an ageing population, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar cited the Global Longevity Economy Outlook report, which projects the global longevity economy to exceed US$65 trillion (RM275.63 trillion) by 2030.

“If Malaysia is to be an initiative-taking leader, we must invest in health systems, social care, housing, financial tools and industries that serve an ageing society,” said Anwar in his remarks and launch of the International Social Wellbeing Conference 2025 (ISWC 2025) on Tuesday.

Malaysia now has more than 1,000 centenarians, compared to fewer than 10 in the early 1970s, according to the United Nations World Population Prospects database.

He stressed that the nation’s institutions must adapt to these demographic changes.

“The real question now is not whether we are ageing, but whether we are adapting. Public policy must take heed that longevity is a transformation of society, not just a trend. We must ask: are our institutions, our policies and our thinking prepared for this shift?” he said.

“This year’s theme, Living to a Hundred: Are We Prepared? invites us to reflect on the implications of longevity. As our lifespans lengthen, we must rethink how we sustain our personal well-being, how we plan our economy and how we preserve the fabric of a cohesive, caring society,” Anwar added.

Anwar also called for a shift from disease treatment to lifelong wellness through preventive care and public health education.

He noted that Malaysians can expect to live on average to 76, they spend only 67 of those years in good health — a gap that has widened from 8.6 years in 2000. 

“This means that living longer does not guarantee that we are living better. This is a wake-up call to make us place a heavier emphasis on investing in our health, particularly in preventive care, public health education and community-based support systems,” he added.

Anwar said the government has taken bold steps in allocating RM45.3 billion for healthcare in Budget 2025, up 9.8% from the previous year.

Among key initiatives is the mandate for private healthcare facilities and community pharmacies to display medicine prices, aimed at reducing out-of-pocket spending and fostering fair competition.

“We are protecting household finances and enabling Malaysians to manage chronic conditions and age with dignity and independence,” Anwar said.

He also emphasised economic dimensions of ageing, as longer life raises expenses for individuals, families and governments. 

He reiterated that the government is committed to increasing the labour share of income to 45% of the gross domestic product (GDP), up from 32% in 2023.

“Tackling this challenge starts by ensuring that work pays fairly. A long life must be matched by decent wages, dignified work and a fair share of national prosperity,” he noted.

“Fair wages alone are not enough. We must strengthen our social protection system to prepare for longer, more complex lives,” he said, adding that the expanded Employees Provident Fund (EPF) coverage to include migrant workers marks a significant step forward in strengthening social protection.

Anwar also said the government is committed to raising the ceiling by investing in digitalisation, innovation and small and medium enterprises (SME) growth — as the country’s economy is being reshaped by microentrepreneurs, gig workers and the self-employed.

“I urge every segment of society — policymakers, businesses, community leaders, academics and all Malaysians — to unite behind a new social contract, one that prepares us not only to live longer, but to live better,” he concluded.