pensionpolicyinternational.com (14.10.2023) MALAYSIA is undergoing a significant demographic shift towards an ageing population. The World Bank has projected that with 14% of the population aged 65 and above by 2044, it will officially be an “aged society”.
plos.org (09.12.2022) For Malaysia, a nation highly dependent on migrant labour, the large non-citizen workforce presents a unique health system challenge. Although documented migrant workers are covered by mandatory healthcare insurance (SPIKPA), financial constraints remain a major barrier for non-citizen healthcare access. Malaysia recently extended protection for migrant workers under the national social security scheme (SOCSO), previously exclusive to citizens.
capital.com (29.06.2021) Malaysia announced a MYR150bn ($36bn) economic aid package as the Southeast Asian nation continues to grapple with COVID-19 restrictions. The package has aspects such as direct cash transfers to citizens, assistance to small and medium enterprises and additional healthcare spending. The highlight of the aid package is MYR10bn of direct fiscal spending by the government for cash aid, unemployment assistance and wage subsidies. Specifically, the government will spend MYR4.6bn for direct cash transfers to people.
Free Malaysia Today (FMT) (08.06.2021) Prime Minister Muhyiddin Yassin says the government is looking to bolster the country’s social safety net programme with a definitive database. Muhyiddin said that he chaired a Malaysian Social Protection Council (MySPC) meeting via video conferencing today, during which the issue of strengthening the national social safety net was discussed. He added it included expanding the protection schemes under the Social Security Organisation (Socso) to groups that were not covered previously.
(18.01.2020) The Star The Wage Subsidy Programme 3.0 under the Social Security Organisation (Socso) will be improved, says Tan Sri Muhyiddin Yassin. The Prime Minister said all employers operating under the movement control order are eligible to apply, regardless of sectors. He said eligible employers would receive a wage subsidy of RM600 for each of their employees earning less than RM4,000 for a period of one month. "Besides that, the limit of 200 employees for each application will be increased to 500 employees.
The Employees Provident Fund (EPF) has revealed full details for the i-Sinar program which will allow eligible members to make withdrawals from Account 1. The i-Sinar program was introduced to assist members who are affected by the current pandemic situation. Affected members who wish to take out funds are able to apply online starting from 21st December 2020.