EPF wants informal sector workers to join retirement savings scheme


KUALA LUMPUR:? The Employees Provident Fund (EPF) is calling for more people working in the informal sector to contribute to the 1 Malaysia Retirement Savings Scheme  (SP1M) to ensure a secure financial future.

Deputy CEO of its strategy division, Tunku Alizakri Alias said employees in the informal sector, defined as the part of the economy that is neither taxed nor monitored by the government, do not have a proper protection system for their retirement compared to the formal or government sectors. - Bernama

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Starbucks considers selling stake in Chinese business, Bloomberg News reports
Asian stocks stutter as Nvidia's forecast disappoints
Oil prices edge up on geopolitical tensions; higher-than-expected US inventories cap gains
KAB registers strong growth in sustainable energy segment
Sime Darby Property aims for balanced sales contribution from industrial, residential segments
India's Adani Group sees US$22bil in value wiped off after US indictments
PETRONAS Chemicals lifts KLCI amid broader market weakness
Northern Solar inks underwriting agreement with M&A Securities
Bitcoin breaks US$95,000 for first time on optimism over Trump crypto plans
Ringgit opens lower against greenback on cautious sentiment

Others Also Read