By: Nur Syamila Kamarul Arefin
SERDANG, February 10 – An online workshop was held from March 7 to 11 to formulate the National Transfer Account (NTA) policy for a successful transition to an aged community.
This online workshop was organised by the Ministry of Finance, Malaysian Research Institute on Ageing (MyAgeing TM), Universiti Putra Malaysia (UPM), and the United Nations Economic and Social Council (ECOSOC).
NTA is a policy to assist countries in the region in understanding and responding to its ageing population as it provides a framework and concept to measure the economic life cycle and redistribution system comprehensively and systematically.
This is because Malaysia will become a super-aged nation based on the increase in the number of senior citizens in the country.
Currently, Malaysia is categorised as an ageing nation as the population growth in Malaysia is expected to decline due to a declining fertility rate of the population in the country.
Not only that, underdeveloped economic growth, modernisation, urbanisation, and the rising cost of living are the reasons for Malaysia to become a super-aged nation quickly.
The NTA policy is a policy that provides a comprehensive programme according to age to manage the economic resources produced and utilised. Each country relies on government programmes, family systems, and financial markets to achieve the definitive distribution of economic resources.
The overall purpose of this NTA workshop is to share and introduce both the NTA methods and applications to policymakers in managing the socioeconomic impact of population change through advanced training and core and technical knowledge.
Thus, this NTA policy can build a larger group and network of local experts, especially policymakers.
A total of 90 participants from the government agencies participated in the NTA online workshop to benefit from the policy sharing by the UN experts, Mun Sim Lai, Tim Miller, and a University of California lecturer, Prof. Emeritus Ronald Lee. - UPM
Date of Input: 01/04/2022 | Updated: 01/04/2022 | hairul_nizam
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