Tripartite Forum. Not Confirmed
On 21 September 2012, after reviewing the interim report and the four proposed scenario, the TPC decided that the most suitable model for Malaysia is the Scenario 3 which combines social insurance with ALMPs and a supplementary component of savings. However, the TPC also requested the ILO to assess the feasibility of Scenario 2 in addition to Scenario 3. A full interim report documenting the consultation process and the agreed broad scenarios was shared with all stakeholders.
The project’s phase 2 consists in assesing the feasibility study of the agreed broad scenarios in order to define the parameters of the new Employment Insurance System. The feasibility study, conducted by the ILO, includes an actuarial and legal assessments, as well as proposed institutional set-up for the implementation, including linkages with employment and skills development programs. It is also expected that the feasibility study will analyse the impact of introducing an employment insurance system on the production cost and enterprises’ competitiveness. The feasibility study received comments from all tripartite partners, through the TPC consultation mechanism.
With this regard, a tripartite forum will be held to present and discuss the findings of the feasibility study before the report is to be finalized and submitted to the Government of Malaysia.
The objectives of this forum are:
- Sharing the findings of the actuarial, institutional and legal assessments on a selected scenario and various pillars;
- Feedback from social partners (the feedback will represent views of all groups, and will be led by MEF and MTUC) and key stakeholders;
- Developing a suitable consensus on selected scenarios and conditions as a way forward for implementation.