Financial literacy key for elite athletes to make ringgit and sense

A TOTAL of 393 athletes under the Podium programme, the nation’s elite group of full-time athletes, will soon be earning a monthly salary ranging from RM1,500 to RM7,500.

What used to be their monthly allowance will be converted into a salary scheme called the Athletes Contract Services Scheme or Skim Kontrak Penggajian Atlet (SKPA), whereby each athlete will sign a two-year contract, which entitles them to contributions to the Employees’ Provident Fund (EPF) and Social Security Organisation (SOCSO).