00:07It is a pleasure to join you at the International Social Well-Being Conference 2026.
00:15My sincere appreciation to EPF and all the partners for creating a platform that looks beyond the pressures of today
00:24and considers the Malaysia we are building for decades ahead.
00:29Every Malaysian who will be 65 in 2048 has already been born.
00:36Whether their later years are secure will depend on decisions we make now.
00:43To plan for the long horizon, we must be honest about the present.
00:49Malaysia has made progress in extending life, but not all those additional years are lived in good health.
00:59A child born today may live to around 84, while healthy life expectancy is about 75.
01:07In other words, we are adding years to life faster than we are adding life to years.
01:16Retirement adequacy is equally important.
01:20Under the EPF's Retirement Income Adequacy Framework RIALA, close to 4 in 10 members are now on track to achieve
01:29basic savings benchmark of RM390,000 by the age of 60.
01:34The ambition is to raise this to 6 in 10 by 2030.
01:40This is progress.
01:41But too many Malaysians remain at risk of outliving their savings during retirement that may last 20 to 25 years.
01:49Coverage is also a challenge.
01:52As millions of Malaysians work outside conventional formal employment, while our social protection systems were designed largely around formal employment.
02:04As the nature of work changes, our system must evolve alongside it.
02:10There is another reality we must confront.
02:14For policymakers, retirement may be a 30-year horizon.
02:19For households, managing food, rent, school expenses, the horizon may be the end of the week.
02:29Asking people to prepare for 2048 while they are uncertain about next month is not simply a question of financial
02:37literacy.
02:38It is a question of financial capacity.
02:41The longevity economy will grow, and Malaysians institutions will help build solutions that are accessible, sustainable, and rooted in the
02:52needs of our people.
02:54To employers, many employees leave work each day only to begin a second shift as caregivers.
03:04Workplace should recognize this through reality of flexibility, supportive policies, and a culture that allows employees to seek help without
03:13stigma.
03:14We must raise the floor so that every Malaysian can age with dignity and security.
03:21We must raise the ceiling so that longer lives remain years of purpose, contribution, and connection.
03:30And we must shorten the distance between policy and delivery.
03:36With that, I declare the Interactional Social Wellbeing Conference 2026 officially open.
03:43May these two days produce not only thoughtful discussions, but decisions that are carried through and commitments that are carried
03:58through.
04:01Wabillahi taufiq wa hidayah.
04:02Assalamualaikum.
04:13You
