International Social Wellbeing Conference 2026 "The Long Horizon"

Bismillahirrahmanirrahim,

Yang Amat Berhormat Prime Minister Anwar bin Ibrahim deeply regrets that urgent and pressing matters require his absence this morning. He conveys his heartfelt apologies for not being able to join us and extends his sincere regards to all present.

As such, I will deliver the Prime Minister’s speech on his behalf.

[SALUTATIONS]

Yang Berhormat Puan Hannah Yeoh
Minister in the Prime Minister's Department for the Federal Territories

Yang Berbahagia Tan Sri Dato’ Seri Mohd Zuki Ali
Chairman of the Employees Provident Fund Board

Yang Berbahagia Dato’ Zamzuri Abdul Aziz
Deputy Chairman of the Employees Provident Fund

Yang Berusaha Encik Ahmad Zulqarnain Onn
Chief Executive Officer of the Employees Provident Fund

Esteemed Speakers and Distinguished Guests.

Assalamualaikum warahmatullahi wabarakatuh, Salam Malaysia MADANI, and a very good morning to all,

1. It is a pleasure to join you at the International Social Wellbeing Conference 2026. My sincere appreciation to EPF and all the partners, for creating a platform that looks beyond the pressures of today and considers the Malaysia we are building for decades ahead.
   
   
2. We live in an age of immediate demand: geopolitical uncertainty, shifting supply chains, artificial intelligence, climate pressures and the rising cost of living. Yet one of the most consequential changes facing Malaysia is taking place quietly. Malaysians are living longer.
   
   
3. But, longevity without preparation can also deepen insecurity. The central question before us is therefore clear: how do we ensure that longer lives are lived with dignity, financial security, good health and purpose?

Ladies and gentlemen,

1. Malaysia became an ageing nation in 2021, when people aged 65 and above exceeded seven per cent of our population. By 2035, older persons will account for more than one in ten Malaysians. By 2048, one in seven Malaysians will be 65 or older, making Malaysia an aged nation by the United Nations' definition.
   
   
2. This is not distant or abstract forecast. Every Malaysian who will be 65 in 2048 has already been born. Whether their later years are secure will depend on the decisions we make now.
   
   
3. To plan for the long horizon, we must be honest about the present. Malaysia has made progress in extending life, but not all those additional years are lived in good health. A child born today may live to around 84, while healthy life expectancy is about 75. In other words, we are adding years to life faster than we are adding life to years.
   
   
4. Retirement adequacy is equally important. Under the EPF's Retirement Income Adequacy framework, close to four in 10 members are now on track to achieve the Basic Savings benchmark of RM390,000 by age 60. The ambition is to raise this to six in ten by 2030. This is progress, but too many Malaysians remain at risk of outliving their savings during a retirement that may last 20 to 25 years.
   
   
5. Coverage is also a challenge, as millions of Malaysians work outside conventional formal employment, while our social protection system was designed largely around it. As the nature of work changes, our systems must evolve alongside it.
   
   
6. There is another reality we must confront. For policymakers, retirement may be a 30-year horizon. For a household managing food, rent and school expenses, the horizon may be the end of the week. Asking people to prepare for 2048 while they are uncertain about next month is not simply a question of financial literacy. It is a question of financial capacity.
   
   
7. Retirement security begins with income, decent work and the ability to save consistently. This is why the wage agenda, and the retirement agenda must move together.

Ladies and gentlemen,

1. The National Ageing Blueprint 2025-2045 provides direction across the economy, employment, education, social protection, health, and long-term care. The planned National Ageing White Paper in 2027 must translate that direction into coordinated and measurable action.
   
   
2. Long-term care will be one of the fastest-growing needs. Today, much of that responsibility is carried by families and, within families, disproportionately by women, often without formal recognition or sufficient support. Families will always have an important role, but they cannot carry the responsibility alone.
   
   
3. The Ministry of Women, Family and Community Development; and the Ministry of Health, are taking this work forward under a national care framework towards 2030. A family entrusting a parent to a care provider must have confidence that clear standards apply and that the quality of care is properly safeguarded.
   
   
4. We must also value the people who provide care. Care work is skilled work which deserves to be recognised, professionalised, and valued accordingly.
   
   
5. Most Malaysians would prefer to remain in their own homes and communities for as long as possible. Under Budget 2026, the Ministry of Women, Family and Community Development, through its Department of Social Welfare, is expanding community-based elderly care support, including home-help services that allow Malaysian older persons to age in their homes, rather than in institutions.
   
   
6. We have set aside RM1.26 billion for the welfare of senior citizens, reaching 180,000 older Malaysians, while expanding activity centres so that growing older does not have to mean growing isolated.
   
   
7. And just as healthy ageing depends on access to care and community support, dignity in later life also depends on financial security. Our social protection system must therefore continue adapting to the changing realities of work.
   
   
8. Financial security must advance alongside care. EPF initiatives such as i-Saraan have created a structured pathway for the self-employed to save, supported by Government incentives. Through i-Saraan Plus, we are strengthening this further for e-hailing and p-hailing drivers. The extension of i-Suri eligibility recognises women whose unpaid care work sustains families and communities.
   
   
9. Yet accumulation is only one part of retirement security. We must also consider how savings can provide sustainable income over a retirement that may last decades. Spend too quickly and people may outlive their savings. Spend too cautiously and they may unnecessarily restrict the very years they worked hard to prepare for. The question is not only how much people accumulate, but how those savings can support a dependable income throughout retirement.

Honourable delegates,

1. Raising the floor is only half the work. We must also raise the ceiling by ensuring that longer lives are lived with agency, connection and purpose. Those who are capable and wish to continue working beyond 60 should have the opportunity to do so. This is about choice, not compulsion. Age-friendly employment can retain experience, strengthen organisations and allow people to remain economically active on terms that respect their circumstances.
   
   
2. Experience, judgement and accumulated knowledge remain valuable assets to society. A retired teacher who continues to mentor students, a grandparent who supports a working family, a community leader who helps strengthen social cohesion. These contributions may not appear in economic statistics, but they create value that is no less important.
   
   
3. Clearly, Malaysia has made progress, but demographic change will not wait for our institutions to catch up. We must move with urgency, discipline and coordination.
   
   
4. For an older Malaysian waiting for affordable care, the difference between a policy announced and a service delivered is personal. Progress must be measured by what reaches people and what changes in their lives.
   
   
5. Malaysia requires a graduated system of care: from community support, nutritious meals and home assistance to day care, home nursing and residential aged care for those who are frail or living with dementia. Access should be based on need, not only on ability to pay.
   
   
6. Government must lead by setting standards, strengthening safety nets and ensuring essential services. But lasting success requires shared commitment.
   
   
7. To officers and regulators: Ministers may set direction, but you turn policy into something people can use. A White Paper must become a service. Coordination must become agencies delivering together.
   
   
8. To GLICs and GLCs: national capital must serve national interest. There are opportunities to support age-friendly employment and to invest responsibly in care, housing, healthcare, technology and services for older Malaysians. The longevity economy will grow, and Malaysian institutions should help build solutions that are accessible, sustainable and rooted in the needs of our people.
   
   
9. To employers: many employees leave work each day only to begin a second shift as caregivers. Workplaces should recognise this reality through flexibility, supportive policies and a culture that allows employees to seek help without stigma.
   
   
10. To community leaders, religious institutions and residents’ associations: you often know who lives alone, who is unwell and who needs someone to check in. That local knowledge and human connection are indispensable.
    
    
11. And to families: the care you provide quietly at home has national value. A daughter who steps away from work to care for her mother should not be forced to choose between her family’s wellbeing and her own future security.

CLOSING

Ladies and gentlemen,

1. The long horizon is not only about living longer. It is about building a society capable of keeping faith with its people across the course of life.
   
   
2. We must raise the floor so that every Malaysian can age with dignity and security. We must also raise the ceiling so that longer lives remain years of purpose, contribution and connection. And we must shorten the distance between policy and delivery.
   
   
3. With that, I declare the International Social Wellbeing Conference 2026 officially open. May these two days produce not only thoughtful discussion, but decisions that are carried through and commitments that are kept.

Wabillahi taufiq wal hidayah. Wassalamualaikum warahmatullahi wabarakatuh.

Thank you.