KUALA LUMPUR: There are plans to allow the self-employed to continue contributing to the Social Security Organization (Socso) after they turn 60, says Datuk Seri Abdul Rahman Mohamad.
"There are four Enactments that govern social security with regard to employees. Three only apply to those aged 60 and below with only the Self-Employment Social Security Act 2017 (Act 789) covering work accidents after the age of 60," he said.
The Deputy Human Resources Minister said that his ministry will carry out a study to determine a suitable approach for those above 60 to continue contributing to Socso.
He said this when answering a question raised by Wan Razali Wan Nor (PN-Kuantan) in Dewan Negara on Thursday (March 14).
In his reply, Abdul Rahman said the study is in line with the International Labour Organisation (ILO) call to see the social security net extended to those above 60.
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He added that some 1.7 million civil servants presently have pension benefits compared to almost 10 million who are self-employed.
He said the self-employed currently benefit from Employees Provident Fund (EPF) and Socso contributions and added that widening the social security net to those above 60 is crucial because the nation is headed towards becoming an aged nation by 2030.
Meanwhile, Abdul Rahman said that benefits under the Socso disability scheme have increased between 0.7% and 9.4% since Jan 1, 2023.
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"This benefited 456,000 contributors under employee accident and disability schemes amounting to RM234mil," he said.
He added that the minimum pension had also been raised from RM475 to RM550 a month, benefitting 56,000 contributors, amounting to RM21mil.
He also assured former Human Resources minister Datuk Seri M. Saravanan (BN-Tapah) that plans are being made to address the nation's ageing population.
Based on numbers released by the Statistics Department (DOSM), the number of those aged 65 is expected to reach 20% by 2056, making Malaysia a “super-aged nation”.
