2018 is drawing to a close as we count down the days to the end of the year.
No one knows what's going to happen in the future when it comes to the country’s economy and the employment rates, considering that its been quite a harsh year.
But next year, there's a little silver lining to soften the blow: retrenched workers are eligible for a RM600 cash allowance.
According to a report from the New Straits Times, Social Security Organisation (Socso) Chief Executive Officer Datuk Dr. Mohammed Azman Aziz Mohammed said that the government has allocated RM122 million to enable SOCSO to implement the new scheme to help retrenched workers.
Retrenched employees will get a RM600 allowance for up to a maximum of three months under the new Employment Insurance System (EIS).
Employees who also opt for the Voluntary Separation Schemes (VSS) are also eligible for this benefit.
The EIS will kick off in January and aims to be a safety net for private sector workers who lose their jobs by providing financial assistance until they find new jobs.
Both employers and employees will contribute 0.2% from the employees’ monthly salary under the new scheme.
It is expected that 57,282 former employees will come forward to claim the new benefit totaling more than RM103 million in 2018.
No one knows what's going to happen in the future when it comes to the country’s economy and the employment rates, considering that its been quite a harsh year.
But next year, there's a little silver lining to soften the blow: retrenched workers are eligible for a RM600 cash allowance.
According to a report from the New Straits Times, Social Security Organisation (Socso) Chief Executive Officer Datuk Dr. Mohammed Azman Aziz Mohammed said that the government has allocated RM122 million to enable SOCSO to implement the new scheme to help retrenched workers.
Retrenched employees will get a RM600 allowance for up to a maximum of three months under the new Employment Insurance System (EIS).
Employees who also opt for the Voluntary Separation Schemes (VSS) are also eligible for this benefit.
The EIS will kick off in January and aims to be a safety net for private sector workers who lose their jobs by providing financial assistance until they find new jobs.
Both employers and employees will contribute 0.2% from the employees’ monthly salary under the new scheme.
It is expected that 57,282 former employees will come forward to claim the new benefit totaling more than RM103 million in 2018.
