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This new Free Contribution Initiative will involve 35,000 taxi and rental car drivers and 15,000 school bus drivers.
Malaysia has announced a fully-subsidised sponsorship initiative for its passenger transportation sector under the Self-Employment Social Security Scheme (SKSPS). This new Free Contribution Initiative will involve 35,000 taxi and rental car drivers and 15,000 school bus drivers.
Speaking at the launch. Minister of Human Resources Steven Sim (pictured above, third from left) asserted that this scheme is able to function as a good social safety network as well as guarantee the welfare of the contributors in the event of an accident or disaster.
The sponsorship of this grant is the result of the cooperation between Malaysia's Ministry of Finance, Ministry of Transport, and Ministry of Human Resources.
The SKSPS was initially introduced by the Social Security Organisation (SOCSO) to provide protection for individuals who are self-employed under the provisions of Malaysia's Self-Employment Social Security Act 2017.
It has since been extended to provide protection to self-employed individuals in 20 sectors informally, including protection against occupational diseases and accidents. Individuals working in the informal sector under SKSPS are only required to pay a balance of 10% or RM23.30 for protection for twelve months.
Lead image / Malaysia Social Security Organisation (SOCSO)
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