Eden At Botanica CT, APAM Sign MoU To Integrate Development With Retirement Scheme
GEORGE TOWN, June 24 (Bernama) -- Eden at Botanica CT Sdn Bhd and AIA Pension and Asset Management Sdn Bhd (APAM) have signed a memorandum of understanding (MoU) to integrate Private Retirement Scheme (PRS) solutions into a senior living development, aimed at strengthening financial preparedness among Malaysia’s ageing population.
Eden said in a statement today that the collaboration reflects a growing focus on combining lifestyle and financial planning solutions, with PRS providing a structured approach to long-term retirement savings as Malaysia transitioned to become an aged nation.
Under the partnership, it said purchasers of residential units at Eden at Botanica CT, a senior living development within the Botanica CT township in Balik Pulau set to be completed by 2027, will receive a RM25,000 contribution from the developer into APAM’s PRS funds.
"Eligible buyers will also receive complimentary personal accident insurance coverage as part of the collaboration.
"The collaboration comes as a strategic move that responds to the country’s gradual transition towards becoming an ‘aged nation’, with 19.8 per cent of the total population and 26.2 per cent of Penang’s population projected to be aged 60 or above by 2040,” according to the statement.
The MoU was signed by Eden at Botanica CT director and MTT Group of Companies group chairman Datuk Seri Kenny Ong and APAM general manager Nur Aini Ali Kasim, witnessed by State Social Development, Welfare and Non-Islamic Religious Affairs Committee chairman Lim Siew Khim and MTT Group of Companies group property and asset director Leonard Theng.
Ong said the development’s commitment extends beyond providing accommodation to creating a holistic ecosystem that supports healthy and active ageing.
“We want to enable seniors to live independently, access the support they need and enjoy greater peace of mind in their retirement years.
"Rising healthcare costs have made retirement planning increasingly important and the collaboration with APAM would help strengthen financial resilience among retirees," he added.
Meanwhile, Nur Aini said PRS was developed to address the growing risk of Malaysians outliving their retirement savings by encouraging disciplined and long-term wealth accumulation while extending complimentary personal accident coverage of up to RM250,000.
Comprising 350 residential units, the development embraces a vibrant community that integrates home, wellness and meaningful connection.
While the residence is primarily for those aged 60 and above, it welcomes secondary residents, including adult offspring below the age 60 to build an inclusive and dual-generational environment.
-- BERNAMA