PETALING JAYA: The Budget 2024 allocation of more than RM200mil for the Social Security Organisation (Socso) to empower the social protection network and to spur the labour market is in line with the Federal Government’s structural reformation agenda.
Human Resources Minister V. Sivakumar stated that the allocation involves the implementation of six initiatives.
These initiatives include two new ones, such as easing the integration of targeted groups into the public sector and raising the salary ceiling for Socso contributions from RM5,000 to RM6,000.
Sivakumar mentioned that the increase in the salary ceiling will be effective after making amendments to the related laws.
This increase will result in a 20.2% rise in cash benefits, benefiting 1.45 million workers and their dependents.
The government’s efforts to strengthen worker protection are also reflected in the improvement of two existing initiatives. RM100mil is allocated for the Self-Employment Social Security Scheme, while RM50mil is allocated for the Housewives Social Security Scheme.
For the Career Training Programme, RM35mil is assigned, and RM30mil is allocated for the Private Sector Work Support Scheme.
The disabled, former prisoners, and senior citizens are the targeted group for both programs, and Sivakumar mentioned that the policy to hire 1% of disabled workers will be extended to former prisoners and senior citizens in various government ministries, government-linked investment companies (GLIC), and government-linked companies (GLC).
He added that Socso’s employment service officers and Malaysia’s national employment portal MyfutureJobs will implement the policy.
Sivakumar stated that improvements to the implementation of Budget 2024 initiatives would be carried out periodically.
