A retired teacher scrolls through hospital bills on her phone while discussing inheritance plans with her daughter; a small-business owner considers whether the house he has lived in for 30 years could be used to support future medical costs; a retiring couple wonders whether their EPF savings will be enough for a retirement that may stretch across two or even three decades.

These are no longer private anxieties; they are becoming central concerns for many Malaysians. With 14% of the population projected to be aged 65 and above by 2045, the national conversation is shifting. Longer lifespans, rising healthcare costs and changing family structures mean the focus is no longer just on how much we save but on how long those savings can last.

This shift has prompted financial institutions to rethink how retirement planning is structured, particularly in relation to income sustainability, healthcare costs and intergenerational wealth transfer.

For many older Malaysians, property is often the largest asset they own but also one of the least liquid. It holds value but generates no regular income unless it is sold or monetised. This creates a gap in retirement planning, especially for households with limited savings.

One response to this challenge is KALSIS, a reverse annuity programme developed by AN LIVING in partnership with Kenanga Investors and supported by Kenanga Trustees.

The programme is designed for Malaysians aged 70 and above, including eligible spouses or partners who are citizens, permanent residents or Malaysia My Second Home (MM2H) pass holders. Participants must also be the legal owners of their homes and possess full legal capacity to sell the property.

The property must be a freehold landed residential unit in the Klang Valley and serve as the owner’s primary residence. It must be free from mortgages or other financial encumbrances, with all taxes, maintenance fees and utility bills fully settled and up-to-date.

The property must also carry a valid title in the owner’s name, supported by the relevant completion or fitness certificates, and meet the programme’s internal valuation criteria.

Under the arrangement, homeowners sell the title of their property at an agreed market value. In return, they receive a lump-sum payment and regular monthly or annual income for life.

Alongside this income arrangement, the programme also provides a range of complementary services aimed at supporting long-term living conditions. These include coverage of quit rent and assessment charges, provision of selected fire safety devices, and support for home insurance and pest control services. Home repairs and maintenance are also included under specified conditions. Together, these services are intended to help ensure that the property remains safe, functional and suitable for ageing-in-place throughout the duration of the arrangement.