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Employment Insurance Scheme

Prime Minister Datuk Seri Najib Tun Razak announced an allocation of RM70 million to SOCSO for financial benefit payments that is said will benefit about 6.5 million private sector employees.

employment insurance scheme

Under this Employment Insurance Scheme (EIS) or Sistem Insurans Pekerjaan (SIP), employees will get temporary financial assistance to support themselves while they look for employment.

This will be implemented from January 2018, with benefit payments starting from January, 2019.

The government is also looking to extend the Employment Injury Scheme (EIS) coverage to more informal jobs, such as fishermen, artists, farmers and petty traders.

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