In-depth study underway to turn Socso into pension-like scheme, says Saravanan

SHAH ALAM: Transforming the Social Security Organisation (Socso) into a pension-like scheme could provide a better safety net for private sector employees aged above 60, says Datuk Seri M. Saravanan.

"I have proposed to Socso to study the feasibility of converting the Socso contributions of private sector employees who have turned 60 years and above into a pension-like scheme," said the Human Resources Minister at a 700-strong gathering of trade unionists at the Shah Alam Convention Centre here on Tuesday (Sept 20).