Malaysia Archives - Pension Policy International

12MarMarch 12, 2025

Malaysia to mandate 2% pension fund contribution from foreign workers

Malaysia is set to require its 2.5 million foreign workers to contribute 2% of their monthly salaries to the national pension fund, with employers obligated to match the same amount. Foreign workers will earn dividends on their contributions and can withdraw their savings when they permanently return to their home countries, according to new regulations under the national pension scheme, Employees Provident Fund, which is set to take effect in the last quarter this year, according to The Straits Times. The 2%...

March 12, 2025

News, SliderMalaysia, savings

17JulJuly 17, 2024

Malaysia’s pension fund strengthens sustainable investment with new stewardship policy

The Employees Provident Fund (EPF), Malaysia’s pension fund, has published the EPF Sustainable Investment Stewardship Policy, becoming the first institutional investor in Malaysia to publish a standalone stewardship policy for sustainable investment. EPF said in a statement on Wednesday that the policy outlines the processes and guidelines the EPF follows to promote good sustainability practices among its investee companies and external fund managers. It said the stewardship undertaking has strengthened the EPF’s commitment to help build a better retirement future for Malaysians...

July 17, 2024

NewsInvestment, Malaysia, Regulation

22AprApril 22, 2024

Less than half of Malaysians are insured as we become an ageing society

Less than 50% of Malaysians are insured, according to insurance industry players. They said that getting insurance is especially important for the public to shield themselves from unexpected illnesses in old age as the country moves toward an ageing society. Insurance industry players said medical claim payouts had increased in the last two years, with a surge of 14.9%, from RM13.4bil in 2022 to RM15.4bil last year. They also pointed to the 41.4% hike in disability payments and a 26.2% rise in...

April 22, 2024

NewsAging, Coverage, Malaysia

26FebFebruary 26, 2024

World Bank Urges Malaysia to Mandate Retirement Savings for Digital Platform Workers

In a world where the gig economy is not just an option but a necessity for many, the World Bank has cast a spotlight on Malaysia, urging the government to adopt a pioneering approach to safeguard its informal workers.At the heart of this recommendation is a call for mandatory contributions to retirement savings for those earning through digital platforms. This suggestion comes at a critical juncture, as the gig economy's productivity in Malaysia soared to RM1.33 billion in the third...

February 26, 2024

NewsInformal Sector, Malaysia, Pension design

02FebFebruary 2, 2024

Malaysia. Proposed abolishment of politician’s pension to be discussed in Cabinet, then Parliament, says PM

REMBAU: The proposal to abolish pensions for politicians will first be discussed at the Cabinet level and then brought to Parliament before any decision is implemented, says the Prime Minister. Datuk Seri Anwar Ibrahim said as a moral responsibility, the matter needs to be tabled and thoroughly explained as it was difficult to rationalise if the abolition of the pension was excluded for politicians. "Some people have asked what about politicians; the system is different, but I think it's reasonable if...

February 2, 2024

NewsMalaysia, Public Pensions

14NovNovember 14, 2023

Malaysia. Pension system needs upgrading as nation heads towards ‘super-aged society’

MALAYSIA is undergoing a significant demographic shift towards an ageing population. The World Bank has projected that with 14% of the population aged 65 and above by 2044, it will officially be an “aged society”. By 2056, Malaysia is expected to become a “super-aged society”, with over 20% of its population in that category. While this brings challenges in areas such as employment, income security and aged care, the shift also presents economic opportunities, particularly in the field of aged care services. Meanwhile,...

November 14, 2023

NewsAging, Malaysia, Pension Reform, Public Policy

26JunJune 26, 2023

CEO of Malaysia’s largest pension fund warns body could divest from companies not committed to ESG goals

Even as Malaysian firms are encouraged to take a step-by-step approach towards achieving environmental, social and governance (ESG) compliance, they should not be disregarding ESG issues, or this could put them at risk of having the country’s largest pension fund withdraw its investments. In one of his strongest warnings issued to-date, Datuk Seri Amir Hamzah Azizan, chief executive of Malaysia’s Employment Provident Fund (EPF), said the fund will divest from companies not committed to ESG goals. Speaking at a session on...

June 26, 2023

NewsClimate crisis, ESG, Investment, Malaysia

30DecDecember 30, 2022

Malaysia’s ageing population needs government attention

A news portal recently reported that a developer plans to turn Butterworth into a retirees’ haven. The report’s subtitle read: “Jayamas Property Group to create niche location, as Malaysia heads towards an ageing population by 2030.” The report said Butterworth is already being targeted as a private housing development hub for the elderly, with medical and healthcare services. Unfortunately, only wealthy senior citizens will be able to afford such services. The Department of Statistics has predicted that the country may soon become...

December 30, 2022

NewsAging, Malaysia, Public Policy

28NovNovember 28, 2022

Malaysia. Concerns over raising the retirement age

THE call for Malaysia to increase the retirement age, due to its ageing population and high number of citizens with insufficient savings, has grown louder as the Covid-19 pandemic has further eroded their savings. There are also suggestions to offer fixed term contracts, incentives for higher contributions towards savings as well as to increase the overall remuneration for employees and improve their financial literacy. Most Malaysians rely on their Employees Provident Fund (EPF) savings to sustain their expenses after retirement. The recent...

November 28, 2022

News2022, Malaysia, Retirement Age, savings

17MarMarch 17, 2022

Malaysia needs an all-encompassing national pension system

AS Malaysia joins the rest of the world in becoming an ageing society, it has become imperative for the government to address the challenges that increasing life expectancy pose to social security arrangements. Increasing life expectancy brings with it sweeping changes in population needs and capacities. The most evident sign is the strain on the pension system as the number of people requiring protection and support is on the rise. There are growing concerns that many are not prepared for a...

March 17, 2022

News, Slider2022, Aging, Informal Sector, Malaysia, Social Security

March 2025

Malaysia to mandate 2% pension fund contribution from foreign workers

July 2024

Malaysia’s pension fund strengthens sustainable investment with new stewardship policy

April 2024

Less than half of Malaysians are insured as we become an ageing society

February 2024

World Bank Urges Malaysia to Mandate Retirement Savings for Digital Platform Workers

Malaysia. Proposed abolishment of politician’s pension to be discussed in Cabinet, then Parliament, says PM

November 2023

Malaysia. Pension system needs upgrading as nation heads towards ‘super-aged society’

June 2023

CEO of Malaysia’s largest pension fund warns body could divest from companies not committed to ESG goals

December 2022

Malaysia’s ageing population needs government attention

November 2022

Malaysia. Concerns over raising the retirement age

March 2022