Latest news with #SocialSecurityOrganisation
New Straits Times
15 hours ago
- Business
- New Straits Times
Govt mulls new EPF scheme to ensure steady income post-retirement
KUALA LUMPUR: The government is considering implementing a monthly pension scheme under the Employees Provident Fund (EPF) as part of its efforts to ensure a steady income after retirement. According to the 13th Malaysia Plan, the government is exploring a more effective mechanism to ensure a steady stream of income after retirement, recognising that sufficient retirement savings are crucial for safeguarding the well-being of workers in their later years. "This mechanism will allow for the separation of contributions to the EPF into two components: retirement savings and retirement pension. "Through this initiative, workers will be able to withdraw a portion of their savings while also receiving a monthly pension upon reaching retirement age," the report said. The report said social protection for all types of workers will be enhanced to ensure broader coverage, including safeguards against job loss and workplace accidents. It added that dedicated legislation will be introduced for gig workers to protect their welfare, including ensuring their right to a safe, healthy and supportive working environment. Additionally, the report noted that protection against occupational hazards will be expanded to include accidents that occur outside of working hours and are not work-related. "Rehabilitation and recovery services under the Social Security Organisation will be expanded to ensure that workers involved in accidents receive the necessary treatment and are able to return to work," it said. The report said initiatives that emphasise a balance between work and life will continue to be expanded to improve workers' well-being. "Flexible work arrangements that allow employees to align their work schedules with personal life needs will continue to be encouraged," it added, noting that this approach will also help reduce psychosocial risks, enhance employee productivity, and support workforce retention in the more secure formal sector.
New Straits Times
3 days ago
- Business
- New Straits Times
Labour market sees over 12.24 million vacancies in five years
KUALA LUMPUR: More than 12.24 million job vacancies have been recorded through MYFutureJobs over the past five years up to June, indicating that the country's labour market remains active. MYFutureJobs, a portal operated by the Social Security Organisation (Perkeso) under the Human Resources Ministry, connects job seekers with employers using artificial intelligence (AI) technology to improve job-matching accuracy. Perkeso group chief executive officer Datuk Seri Dr Mohammed Azman Aziz Mohammed said millions had successfully secured employment through the platform during the period. He said this included 461,863 graduates, reflecting MYFutureJobs' growing role as a catalyst for youth transition into the workforce. "A total of 1,279,095 job seekers secured employment. This is the result of various strategic interventions and matching programmes implemented by Socso. "Although the figure represents around 10 per cent of total vacancies, it is a key indicator of the effectiveness of our job placement mechanisms, which are being continuously developed and strengthened," he told Berita Harian. Regarding graduate job mismatch, Azman said the matter was being addressed as part of efforts to dynamically restructure the national employment landscape. The underemployment rate among graduates rose to 34.3 per cent last year. In response, Perkeso has undertaken various strategic initiatives, including organising 106 MYFutureJobs Career Fairs nationwide. "We have also developed the Labour Market Exchange (LMX) portal to provide accurate, up-to-date labour market data - including salary ranges, industry demand trends and growth sectors - to help guide graduates in career selection. This is done in collaboration with ministries and government agencies. "In addition, Perkeso has introduced employability and career guidance programmes for students before graduation, and established the interactive and digital MYFutureJobs Career Exploration Centre (MYCEC)," he said. Between January and June 20 this year, a total of 182 programmes were held under the Career Launchpad initiative, attracting 13,812 participants. The programme was created to prepare prospective graduates to transition into the workforce and enhance their marketability. "This experience has led to the expansion of MYFutureJobs Career Fairs into the metaverse. The virtual format allows job seekers to explore employment opportunities, attend interviews and engage with employers — without being limited by location," he added. The MYFutureJobs mobile application, launched in May 2025, has since been downloaded by 51,000 users. Previously, the Centre for Future Labour Market Studies (EU-Era) found that 78.7 per cent of graduates in the country were not fully prepared to enter the workforce upon graduation. Following this, the Higher Education Ministry (MoHE) has called on universities to review their academic programmes, particularly those with an employability rate below 30 per cent.
The Star
4 days ago
- Automotive
- The Star
Etiquette training for cabbies in the works
KUALA LUMPUR: The Transport Ministry plans to provide basic language and driver etiquette training for taxi drivers ahead of Visit Malaysia 2026 (VM2026), says Anthony Loke ( pic ). The Transport Minister said this is important because the taxi industry is more than just transportation as it represents the heartbeat of public service and serves as the first impression of the country for tourists. He added that the government has also extended the Social Security Organisation contribution incentive from 10% to 30% to safeguard the safety and welfare of taxi drivers. 'These reforms are ongoing, and I will continue to work with this industry to strengthen the public transport sector for the benefit of the people,' he posted on Facebook, Bernama reported. Earlier, Loke launched the third annual general meeting of the Malaysia Taxi, Rental Car, Limousine and Airport Taxi Association.
New Straits Times
5 days ago
- Business
- New Straits Times
Loke: Taxi drivers to get language, etiquette training for VM2026
KUALA LUMPUR: The Transport Ministry plans to introduce basic language and driver etiquette training for taxi drivers ahead of Visit Malaysia 2026 (VM2026), said its Minister, Anthony Loke Siew Fook. Loke said the initiative is crucial as the taxi industry is not merely about transportation, but also represents the heartbeat of public service and often forms tourists' first impression of the country. He added that the government has also increased its contribution incentive to the Social Security Organisation (Perkeso) from 10 per cent to 30 per cent to safeguard the safety and welfare of taxi drivers. "These reforms are ongoing, and I will continue working with this industry to strengthen the public transport sector for the benefit of the people," he said in a Facebook post. Earlier, Loke officiated the third annual general meeting of the Malaysia Taxi, Rental Car, Limousine and Airport Taxi Association (GTSM), which provided him an opportunity to hear directly from industry players. As Transport Minister, he said meaningful reforms in the sector could only be achieved through close collaboration with stakeholders such as GTSM.
The Sun
5 days ago
- Business
- The Sun
Govt plans language and etiquette training for taxi drivers ahead of VM2026
KUALA LUMPUR: The Transport Ministry is rolling out language and etiquette training for taxi drivers in preparation for Visit Malaysia 2026 (VM2026), aiming to elevate service standards for tourists. Transport Minister Anthony Loke Siew Fook emphasised that taxi drivers play a crucial role as the first point of contact for visitors, shaping their initial impression of the country. Loke stated, 'The taxi industry is more than just transportation, but represents the heartbeat of public service and serves as the first impression of the country for tourists. ' The initiative is part of broader efforts to improve public transport quality ahead of the anticipated tourism surge in 2026. Additionally, the government has increased the Social Security Organisation (Perkeso) contribution incentive from 10 per cent to 30 per cent to better protect the welfare of taxi drivers. Loke highlighted ongoing reforms, saying, 'These reforms are ongoing, and I will continue to work with this industry to strengthen the public transport sector for the benefit of the people.' During the third annual general meeting of the Malaysia Taxi, Rental Car, Limousine and Airport Taxi Association (GTSM), Loke engaged with industry representatives to gather feedback. He stressed that meaningful improvements require collaboration with key stakeholders. - Bernama
