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b.
To encourage single mothers, persons with disabilities,
retirees and others outside the labour forces to be engaged
as part time workers, the Government made the Employment
(Part - Time Employees) Regulations 2010 pursuant to its
powers under subsection 2(4A) of the Employment Act 1955.
The Regulations came into force on 1 October 2010. They
outlined the benefits for older persons who re-enter formal
employment , including Employees Provident Fund
contribution, SOCSO contribution, paid annual leave and paid
medical leave.
c.
In terms of social security, the Pensions Act 1980 is an Act for
the administration of pensions, gratuities and other benefits
to eligible civil servants and dependents. It provides monthly
pensions for retirees and other benefits for the rest of life.
The amount received by pensioners depends on their last
drawn salary and period of their services.
d.
At the same time, the Employees Provident Fund Act 1991
provides for a mandatory retirement saving fund for
employees in the private sector as well as civil servants who
are not under the pension fund scheme. Both employers and
employees contribute to the fund while in employment.
Retirees can withdraw their funds in one lump sum upon
retirement unless other arrangements are made.
Employee’s contribution is allowed up to the age of 75 as
long as the person is employed. In 2010, the Government
introduced the 1Malaysia Retirement Savings Scheme for
those who are self-employed or without fixed monthly
income to ensure that they would have their own retirement
fund. The scheme was initially available for 5 years i.e. until
2014. However, the Government announced in the National
budget 2014 that the scheme would be extended to 2017
with the increase of government’s contribution from 5% to
10% per year.
REPORT ON CARE SERVICES FOR OLDER PERSONS AND SUPPORT FOR CAREGIVERS