NAVIGATING THE CHALLENGES OF AGING: A CONCEPTUAL ANALYSIS OF FINANCIAL STABILITY AND LIVELIHOOD SURVIVAL

Abstract

Malaysia is experiencing a rapid demographic transition, with its aging population projected to rise significantly, from 8.1% in 2024 to 14.5% in 2040. This shift poses critical challenges to ensuring financial stability and livelihood survival for older adults. Insufficient savings, low financial literacy and reliance on mechanisms like the Employees Provident Fund (EPF) leave many retirees unprepared for post-retirement financial demands. Additionally, escalating healthcare costs, limited employment opportunities and policy implementation gaps further exacerbate the vulnerabilities faced by aging Malaysians. This study employs a conceptual analysis methodology, integrating a literature review, thematic analysis of income security, healthcare access and employment opportunities, and a comparative framework examining successful aging policies in Japan, Sweden and Bangladesh. The findings emphasize the interconnectedness of financial stability and livelihood survival, highlighting the need for comprehensive policy reforms, private-sector engagement, and strengthened community support systems.