Socso channelled RM629m in financial aid through EIS since March 2020, Dewan Rakyat told

KUALA LUMPUR, Dec 14 — The Social Security Organisation (Socso) has channelled financial assistance amounting to RM629.2 million through the Employees Insurance Scheme (EIS) since March 18 last year until Nov 5 this year.

Deputy Human Resources Minister Datuk Awang Hashim said the financial assistance was for job search allowance, amounting RM588.5 million, reduced income allowance (RM6.9 million) and early re-employment allowance (RM33.8 million).

“Based on the EIS statistics, the number of applications for the benefits from March 18, 2020 to Nov 5, 2021 was 148,926 and out of that, 119,500 applications were approved,” he said in response to a question from Su Keong Siong (PH-Kampar) during the question and answer session at the Dewan Rakyat today.

Su wanted to know the number of claims and the amount of payments made by Socso under EIS.

According to Awang, 55,742 people lost their job since January to Nov 5  this year and a total of RM324.6 million had been approved for the payment of benefits to the individuals involved.

Meanwhile, he said almost 90 per cent of individuals who applied for jobs through the MYFutureJobs portal were able to get a job.

To a question by Charles Anthony Santiago (PH-Klang) on ​​the government’s plan to increase the minimum wage to RM1,500, Awang said the National Wages Consultative Council had implemented the Review of the Minimum Wages Order 2020.

He said the National Wage Consultative Technical Committee had held consultations and engagement sessions with employers’ representatives, employers’ organisations, workers’ representatives, trade unions and the public to obtain input on the impact of the minimum wage implementation on the country’s socio -economy.

“The review process also takes into account socio-economic indicators such as poverty line income, median wages (employers’ ability to pay wages), unemployment rate, labour productivity and changes in the consumer price index that reflect the cost of living.

“These socio-economic indicators will reflect the current labor market,” he added. 

He said the government was concerned with the impact of the increase in the minimum wage rate on micro, small and medium enterprises.

“Therefore, the increase in the minimum wage should be implemented in stages so as not to put pressure and burden on employers as well as to affect the company’s operations and expose employees to the risk of losing their jobs,” he added.

He said the National Wage Consultative Council which met on Dec 9 was in the process of preparing a paper to be submitted to the Cabinet. — Bernama