MALAYSIA AGEING AND RETIREMENT SURVEY: WAVE 2 (2021-2022) SURVEY REPORT UNVEILS INSIGHTS INTO AGING AND RETIREMENT DYNAMICS

The Social Wellbeing Research Centre (SWRC) is pleased to announce the findings of the Malaysia Ageing and Retirement Survey (MARS) Wave 2, conducted to comprehensively understand the evolving landscape of aging and retirement in Malaysia. This nationwide longitudinal study has provided valuable insights into the lives of individuals aged 40 years and older, shedding light on various socio-economic aspects, health, family dynamics, and societal factors.

The MARS Wave 2 survey built upon the foundation of Wave 1, which successfully interviewed 5,613 respondents in 2019. In its current iteration, Wave 2 revisited the original respondents while introducing face-to-face interviews with approximately 1,000 new households. Data collection for Wave 2 spanned from October 2020 to April 2022, resulting in participation from a total of 4,821 respondents. Among these, an encouraging 75% were returning participants from the previous wave.

MARS has meticulously gathered information on critical issues impacting middle-aged and elderly adults, encompassing socioeconomic and demographic attributes, family dynamics, healthcare access, economic security, and other pertinent social variables. The survey paints a comprehensive picture of the Malaysian aging population, revealing trends and challenges that have emerged since the previous wave.

Key findings from the MARS Wave 2 survey include:

• The average age of respondents was 58 years, with individuals aged 60 years and older comprising 44% of the sample.
• The majority of respondents identified as Malays, were married, and held at least a lower secondary education level.
• Multigenerational households were common, though approximately 5% of respondents lived alone.
• Active intergenerational financial exchanges were observed, both between respondents and their children, as well as between respondents and their parents and/or parents-in-law.
• While 45% of respondents were still engaged in work, there were notable gender disparities, with 62% of males and 32% of females reporting employment. A significant portion were self-employed.
• Approximately 60% of respondents reported at least one doctor-diagnosed disease, with hypertension, high cholesterol, and diabetes being the most prevalent.
• Over 80% of respondents maintained a positive outlook on life, valuing family, friends, and a sense of purpose.
• Respondents expressed a reluctance to opt for assisted living facilities, while favouring government-mandated care for aging parents.
• The pandemic significantly impacted economic, family, and social aspects of respondents' lives, with financial effects being more pronounced among males, females, and younger age groups.

The MARS Wave 2 survey report provides an insightful snapshot of the evolving landscape of aging and retirement in Malaysia. These findings hold significance for policymakers, researchers, and organizations working toward better understanding and addressing the needs of the aging population.