Kuala lumpur: The Department of Statistics Malaysia (DOSM) today marked another key milestone with the launch of the National Transfer Accounts (NTA), an initiative aimed at strengthening national policy planning through an evidence-based approach.

According to BERNAMA News Agency, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin highlighted that the NTA provides a systematic method of measuring income and consumption across various age groups, as well as how members of different generations support one another. He noted that the NTA could be instrumental in formulating evidence-based policies to address the effects of changing population age structures more effectively.

Mohd Uzir revealed that DOSM is the third National Statistical Office (NSO) to publish the NTA, following South Korea and Colombia. He emphasized the department's commitment to enhancing international visibility through proposals like establishing a City Group NTA. The development of the NTA in Malaysia began in 2014, showcasing the department's long-term dedication to this initiative.

In a separate statement, DOSM announced the publication of the Malaysia NTA 2022, based on a framework and modeling techniques adapted from the National Transfer Accounts Manual: Measuring and Analysing the Generational Economy, United Nations (2013). The NTA is compiled using data from the Mid-Year Population Estimates, National Economic Accounts, the Household Income and Expenditure Survey, and records from various agencies and relevant sources.

Further insights from DOSM indicate that the Malaysia NTA 2022 reveals an excess of income over consumption among workers starting from age 29, with the peak level recorded at age 44, amounting to RM14,523 per capita per year.