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Job insurance scheme for Malaysian private sector workers in the pipeline

A compulsory unemployment insurance scheme for workers in the private sector is in the pipeline, says Human Resources Minister Datuk Seri Dr S. Subramaniam. Migrate to MalaysiaHe said a commission had been studying the matter since last year and had submitted its initial report recently on possible models to be adopted. Dr Subramaniam said the scheme would cover Malaysians working in all sectors, regardless of pay scale. "We want to protect people who don't have jobs or are in between jobs. "We have looked into the backgrounds of young and old workers and how we can provide them with better security, including after they retire," he said after launching the Segamat-level Labour Day celebrations at the Batu Anam municipal council field yesterday. He said that although many developed countries had unemployment insurance schemes, they had drawbacks and Malaysia needed to be careful before implementing it. At present, the savings of workers in the Employees Provident Fund (EPF), especially for those earning low wages, were not enough to sustain them during retirement, as most of them would exhaust the money within three years. On another matter, Dr Subramaniam said street protests and demonstrations during Labour Day were not part of Malaysian culture. He said the occasion in the past had always been a celebration of Malaysian workers' contributions but some quarters were subverting it for their own selfish needs. "There are certain parties which want to solve issues through blackmail. We cannot allow this culture to thrive," he said in condemning the planned protest by the National Union of Bank Employees (NUBE) against him. He said it was not fair of the NUBE to be upset with him after about 3,000 of its members decided to set up their own union. "It has become a legal case and we should leave it to the court to decide," said Dr Subramaniam. Source: http://www.asiaone.com/News/AsiaOne%2BNews/Malaysia/Story/A1Story20130502-419734.html

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