KUALA LUMPUR: The proposed social protection expansion to working Malaysians who reach the age of 18 is currently being reviewed before it is brought to the cabinet.
Prime Minister's Office (PMO) in a statement said the Malaysia Social Protection Council (MySPC) during a meeting today had agreed that the proposal, aimed at ensuring old age income security, is further studied and the Employees Provident Fund (EPF), through Finance Ministry, would then bring forth for cabinet approval.
"Through MySPC, the government aims to strengthen and expand the country's social protection network, in fact, it has to be swiftly translated into tangible action plans that benefit the people entitled to it.
"It could be achieved through coordination and implementation of social protection programmes that are inclusive, as well as an integrated capacity and capability enhancement programme for targeted groups," read the statement.
It said the government is studying the best method in increasing social security coverage to the working population, especially those in the informal sector, as well as ensuring the funding's sustainability.
This, it said, is in line with the 2024 Budget tabled on Oct 13.
"Sustainable social protection will ensure that every citizen continues to enjoy reasonable living standards as they face any risk throughout their lifetime.
"The government, through MySPC, has discussed a more inclusive social protection coverage, especially for vulnerable groups and those in the informal sector."