Government mulls life-long pension for private sector

The Malaysian Insider – Mon, Jun 18, 2012

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By Lisa J. Ariffin

KUALA LUMPUR, June 18 — The Human Resource Ministry is in talks with the Employees Provident Fund (EPF) to set up a special life-long pension scheme for private sector workers to counter poverty issues and the rising cost of living, Datuk Seri Dr S. Subramaniam said today.

“We have not made a decision, and will have discussions with KWSP,” the human resources minister told a news conference, referring to the pension fund by its Malay initials.

“And we hope to reach a decision that’s agreeable to everybody,” Dr Subramaniam (picture) added.

He had earlier launched a seminar on administrative and operational efficiency in social security here.

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