Socso to launch cash allowance programme for the recently unemployed

05 Dec 2017 / 19:36 H.

KUALA LUMPUR: Workers who lose their jobs in 2018 will receive an interim benefit in the form of a cash allowance for three months, beginning in 2018.
Social Security Organisation (Socso) chief executive officer Datuk Dr Mohammed Azman Aziz Mohammed said the retrenched employees will receive RM600 per month.
"Those who have been affected by the Voluntary Separation Scheme (VSS) and Mutual Separation Scheme (MSS) are eligible too," he said.
The government had earlier allocated RM122 million for this purpose, with RM103 million for the programme coming from Socso.
"It is estimated that there are 57,282 potential claimants for the allocation," he said at a news conference held at Socso headquarters along Jalan Ampang.
Additionally, Socso will embark on a one-month nationwide roadshow starting this month to elaborate further on the programme and the implementation of the Employment Insurance System (EIS), which had been approved by the Dewan Rakyat on Oct 25.
"Through the roadshow, Socso aims to educate employers, employees and also trade unions on the coverage, registration, contribution, administration, and enforcement of the EIS," he said, adding that the agency has targeted RM479 million for EIS collection.
Earlier, Socso chairman Tan Sri Aseh Che Mat said the move was important to improve productivity.
"Under the EIS, we will help those who lose their jobs, they are not just compensated but Socso will also match potential jobs to them. We will assist in looking for a replacement job. This is important to see our country reach the status of a developed nation," he said.
He added that should something happen to Malaysia's currently stable economy and companies close down, such schemes would be beneficial to employees in the private sector.
Under the EIS scheme, a contribution of 0.2% is borne by the employer with 0.2% from the worker.

thesundaily_my Sentifi Top 10 talked about stocks