Tenth actuarial valuation of the Social Security Fund in response to Section 82 of the Social Security Act 1696.
Project properties
- Partners: Direct Trust Fund
- Status: Completed
Description
This is a periodical actuarial valuation, held at least once every three years, in response to Section 82 of the Social Security Act 1969. Some recommendations are periodical, but important, for example, the periodical benefit increase based on the actuarial valuations; some past recommendations are not yet implemented and are to be reconsidered (e.g. contribution rate increase of the Invalidity Benefit Branch); and some new recommendations may arise out of the recent changes of the social and economic environments. There are all examined in details by ILO international experts in collaboration with the Government staff, mainly SOCSO staff, and a draft report will be discussed in the Tripartite SOCSO Board with the participation of the social partners. The main component of the strategy is the analysis and the recommendations to be provided for the Board’s discussions. As the scheme was set up based on the ILO recommendations and by taking into account major features of the ILO Convention 102 (Minimum standard for social security benefits), new recommendations will be formulated on the principles of the ILO Social Security Conventions and Recommendations and inform the social partners of the importance of using the ILO Conventions and Recommendations as yardsticks for policy formulations. The study of course will examine the gender responsiveness and fairness of the social security coverage and the benefit adequacy from the viewpoint of gender equality.SDG
Goals
- End poverty in all its forms everywhere
Time
15.06.2015 - 30.09.2017
Budget
210 069 / 310 000
Development Cooperation
Timeline of linked projects
123
MAL/14/02/MAL
06
15
2015
09
30
2017
01
01
2016
12
31
2017
Malaysia - Increased capacity of the Malaysian government and social partners to develop and implement policies on social protection floor (country programme 2016-17)
232