Strengthening the social protection network

PETALING JAYA: The Budget 2024 allocation of more than RM200mil for the Social Security Organisation (Socso) to strengthen the social protection network and spur the labour market is in line with the Federal Government’s structural reformation agenda, says the Human Resources Minister.

V. Sivakumar said the allocation involves six initiatives, including two new ones – one of which was to ease the integration of targeted groups with the public sector and the other for raising the salary ceiling for Sosco contributions from RM5,000 to RM6,000.

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He said the increase of the salary ceiling will take effect after the relevant laws are amended.

Sivakumar said this will increase cash benefits by 20.2%, benefiting 1.45 million workers and their dependents.

He added that the government’s efforts to beef up worker’s protection is also reflected in the improvement of two existing initiatives – the Self-Employment Social Security Scheme where RM100mil was allocated and the Housewife Social Security Scheme where RM50mil was allocated.

Sivakumar said RM35mil was allocated for the Career Training Programme and RM30mil for the Private Sector Work Support Scheme.

He said the targeted group for both programmes are the disabled, former prisoners, and senior citizens.