Malaysia could face an elderly care crisis unless it boosts funding to widen social pension coverage, the World Bank warned in a report published on Thursday (Oct 30). It noted that Malaysia has one of the lowest social pension coverage in the world, with coverage of social pensions as a percentage of the population aged 65 and above at just under 10 per cent. The report titled “Should Malaysia expand its social pension? Global evidence, design issues and options” said that Malaysia’s population aged 65 and over is projected to reach a fifth by 2056.
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