KUALA LUMPUR – The government will bear 80% of the contributions for the Self-Employment Social Security Scheme (SKSPS), said Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
He said this is to reduce the burden on self-employed workers such as food delivery riders, fishermen, farmers and artists – such as those under the National Film Development Corporation – such that they would only have to bear 20% of the contribution to the scheme.
Tengku Zafrul said a RM150 million allocation has been set aside under Budget 2023.
It will also include assistance to other self-employed workers, such as taxi drivers and gig workers in the information technology sector.
He also said that the SKSPS contribution will be made mandatory for all those in the self-employed sector in stages, especially those in the high-risk sector.
“This will start with the public transport sector, followed by the delivery sector, including food delivery,” he said during the tabling of the budget in the Dewan Rakyat today.
Meanwhile, Tengku Zafrul also said that the limit for the Employees’ Provident Fund (EPF) voluntary contribution will be increased from RM60,000 to RM100,000 a year.
To encourage more voluntary contributions, he said the scope for tax relief for life insurance premiums or contributions to takaful and the like will be expanded to RM3,000.
He also said the i-Saraan programme, a retirement incentive for EPF members who are self-employed or not earning a regular income, will continue next year.
It will have matching contributions from the government increased from RM250 to RM300, with an overall allocation of RM30 million from the government to benefit over 100,000 people.
For housewives, Zafrul said that the government intends to continue the Bantuan Kasih Suri Keluarga Malaysia in 2023 with an allocation of RM120 million.
He said housewives that make a minimum EPF contribution of RM60 will receive an incentive of RM600 a year, and that this will benefit over 200,000 housewives. – The Vibes, October 7, 2022
