Dr. Rulia Akhtar, a Research Fellow at the Ungku Aziz Centre for Development Studies (UAC) at Universiti Malaya, sheds light on the significant demographic shift occurring worldwide due to the rapid ageing of populations. This shift is primarily driven by declining birth rates and advancements in healthcare, resulting in a substantial increase in the number of older individuals in society. As a result, societies are facing pressure to adapt to this changing demographic landscape.
The global population is expected to double in terms of ageing individuals by 2050, with the proportion of elderly people projected to reach 16% by that time. This trend, as highlighted by the United Nations, is characterized by a growing number of older individuals who typically have fewer children and longer lifespans. This demographic shift poses various challenges for economies, including a shortage of skilled workers, decreased productivity, higher labor costs, and reduced global competitiveness.
In Malaysia, the ageing population is on the rise, with projections indicating that by 2035, 15% of the total population will be considered senior citizens. This demographic change has significant implications for the country, including increased strain on healthcare, pension, and welfare systems, as well as a declining labor force. As the population ages, the demand for healthcare services, long-term care, and age-related disease treatments is expected to surge, putting pressure on the healthcare infrastructure and finances.
Moreover, the sustainability of pension schemes may be at risk due to a larger number of retirees drawing pensions and fewer active workers contributing to pension funds. This could necessitate reforms to ensure financial stability. Additionally, an ageing workforce and lower productivity among older workers may lead to slower economic growth. The dependency ratio, where fewer workers support a higher number of retirees, can strain social welfare systems and exacerbate social isolation and loneliness among older individuals.
Elderly populations are also vulnerable to financial exploitation, neglect, and abuse, underscoring the need for protective measures and support services. It is crucial to provide accessible housing, transportation, and infrastructure to support the independence and mobility of older adults. Balancing the needs of younger and older generations is essential to maintain equitable distribution of resources and opportunities and prevent intergenerational conflicts.
To address these challenges, Malaysia can implement various strategies, including pension system reforms, promotion of private savings, strengthening of healthcare systems, enhancement of elderly care services, promotion of social inclusion, and development of integrated ageing policies. By proactively managing the economic and social consequences of an ageing population, Malaysia can ensure a high standard of living for its senior citizens.
In conclusion, Dr. Rulia Akhtar’s insights highlight the importance of addressing the implications of an ageing population and implementing effective strategies to support older individuals while maintaining societal well-being. It is imperative for all sectors of society to collaborate in addressing these challenges and ensuring a sustainable future for all generations.