Abstract—Many countries have experiencing aging population, due to better healthcare services and higher education among citizen. In Malaysia, the country also facing the same emerging trend, in which the demographic profile of Malaysian experiencing the major shift. The life expectancy of Malaysian has increased in year 2012 with the average of 73.8 years or equal to 71.1 years for males and 76.7 years for females. This phenomenon has spawned into the public sector and forced the government to take a prompt action by increasing the retirement age of public servant from 58 to 60 years old. However, it has created new challenges towards young entrance, especially in the public sector. SEDAR and CUEPACS have different views on this issue, in which it has been debated from the country’s standpoint. The Malaysian National Policy for Elderly hasits own loophole within;make the policy become less comprehensive in the views of aged. Therefore this paper aims to provide an overview of Malaysia’s situation of elderly and its impact towards the country’s growth.
Index Terms—Aging population, public sector, financial security, national policy.
Siti Norfazlina Yusoff and Geogiana Anak Buja are with UniversitiTeknologi Mara (UiTM), Malaysia (e-mail: email@example.com).
Cite:Siti Norfazlina Yusoff and Geogiana Anak Buja, "Aged Society: The Way Forward," International Journal of Trade, Economics and Finance vol. 4, no. 4, pp. 226-291, 2013.