Publication: Regulating Retirement Village In Malaysia; The Way Forward
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Date
2021
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Publisher
Zes Rokman Resources
Abstract
As Malaysia is predicted to be an ageing nation by the year 2030, developing a retirement village shall be an avenue for senior citizens to have a welfare and conducive placement for them to spend their time with value-added amenities that cater their special needs. Nevertheless, the hurdles that Malaysia faces is the non-existence of any legal framework to govern the establishment of retirement village in Malaysia. As a result, this has caused problems not just to the authorities but also the operators or developers who might be interested to embark in this kind of project. This paper discusses the overview concept and elements of retirement village sector in Malaysia and other jurisdictions, and the possibility of having a sustainable legal framework in regulating the sector. The legal issues and possible unintended consequences that may arise out of the development of retirement village in Malaysia is also discussed in this paper. Document analysis on relevant Malaysian retirement village is conducted. Reference to other models of retirement village in other countries is also made in identifying the suitable practices to be implemented in Malaysia. Having a proper legal guideline on this shall improve the well-being and quality of life of Malaysian senior citizens in line with Sustainable Development Goals. This legal framework shall be helpful to the authority, government agencies, community, and operators of retirement village in Malaysia.
Description
Volume :14 (Pg. 103-108) December
Keywords
retirement villages, elderly, senior citizens