Insurance scheme for private sector workers to kick off with RM70mil

Out in force: Some of the workers waving the Jalur Gemilang during the 2017 Workers Day celebrations in Putrajaya. — MOHD SAHAR MISNI/The Star

PUTRAJAYA: Workers who lose their jobs in the private sector will be protected by the country’s first Employment Insurance Scheme (SIP) which takes off next year with a RM70mil government injection.

The money will fund the Social Security Organisation’s (Socso) financial benefits under the scheme.