Sosco RM5.7 Billion Payout

The Social Security Organisation (Socso) made benefit payments of up to RM5.7bil to Insured Persons and their dependents last year. Socso's excellent fiscal flow has helped further increase the sustainability of funds and the ability to pay interest. 

The financial performance ended last year also recorded a surplus of RM1.8bil thus recording the best performance since Socso was established in 1971. The estimated surplus reached RM1.8bil, which shows an increase of 50%, or even 1.5 times compared to the previous year.

Socso success was driven by contribution income and enforcement, which saw a positive growth of 14% as well as an increase in gross investment income to 27% with a Return On Investment (ROI) exceeding 6%.

Among them is the enforcement of an increase in the insured salary ceiling and the amendment of the Employment Act 1955 related to the coverage of overtime pay. Socso is also encouraged to explore new forms of protection such as protection outside of work, as well as strengthen the quality of governance and services holistically in ensuring more sustainable and universal protection.

New and improved Prihatin application will allow users to check and download contribution statements, Self Employed Social Security Scheme (SKSPS) registration, benefit calculation, obtain general information and access Sahabat Prihatin.