Budget 2019: Govt introducing new benefits to look after seniors


PETALING JAYA: While presenting Budget 2019, Finance Minister Lim Guan Eng announced a number of new measures to look after senior citizens.

He said that the government is concerned over the plight of retired civil servants, especially those whose pension is below RM1,000 a month.

With a view to this, the government will give a one-off RM500 payment to eligible pensioners.

Additionally, in order to encourage the hiring of those above the age of 60 who want to work, the government proposes that their mandatory EPF contributions be reduced from 6% to 4%.

Lim says this group will also not have their income deducted for EPF contributions to increase the money available to them.

There will also be tax incentives for companies that hire senior citizens, with a salary limit of RM4,000 a month.

Furthermore, the government has allocated RM10 million annually to extend medical benefits to parents of contractual civil servants.

For full coverage of Budget 2019, go to http://bit.ly/budget2019TheStar.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

Covid-19: 17,170 new cases on Thursday (July 29)
BREAKING: Parliament adjourns again until 3.30pm, MPs question why
Covid-19: Variants of concern suspected in deaths of 13 patients in cluster in Tangkak
Alleged cryptominers plead not guilty to charges of electricity theft
Miri civil servant cheated of RM31,100 over online drone purchase
Ministers, Attorney General believed to be at Muhyiddin's residence
Growing concern among Malaysians online about overcrowding at PPVs
Covid-19: RM3.9bil allocated for procurement of 79.9 million vaccine doses, says Zafrul
Health DG: No Covid-19 outbreak during current Parliament sitting, 56 cases were detected earlier
Duration of Dewan Rakyat special sitting will not be extended, says Takiyuddin

Stories You'll Enjoy


Vouchers