All You Need To Know About Malaysia’s Employee Insurance System

Malaysia finally has an unemployment insurance scheme in place. Effective January 2018, retrenched and displaced workers will not only receive compensation but will also be matched to new jobs under SOCSO’s new Employee Insurance System. But with a monthly contribution of just 0.4% of a worker’s salary – the lowest rate among any other employment insurance schemes in the world - is the system sustainable? Chief Officer of the EIS at SOCSO, Dato Mohd Sahar Bin Darusman gives us the deets.