The government wants to amend the Employees' Social Security Act to provide 24-hour coverage. Right now, many employees come to Perkeso wanting to claim benefits after getting involved in accidents outside working hours. perkeso can't help them because the law doesn't allow it.
Small & Medium Enterprises - More than 95 per cent of companies in the country are micro, small and medium enterprises (MSMEs), and they may not be able to afford insurance benefits for their workers. Once the law was amended, Perkeso would provide 24-hour coverage for all accidents, regardless if they were work-related or not.
Perkeso scheme offers protection (provided lump-sump payments) and also designed for jncome replacement. Example - a member loses a leg at work, Perkeso will compensate the member for 90 per cent of your average last drawn salary for the rest of your life.
Now you only have that coverage if you lose your leg in the course of your work. Once we have 24-hour protection you will always be covered, even if you are injured at home."
The same applies to death benefits, where Perkeso pays a contributor's dependants 90 per cent of the average salary for the rest of their lives and their children until they reach the age of 21.
Round-the-clock protection could be important for those in the private sector as many workers cannot afford to rely on their retirement savings in the event of an injury or disability outside of work.
In November last year, the Finance Ministry revealed that 6.3 million Employees' Provident Fund members under 55 had less than RM10,000 in their accounts.
The 24-hour coverage would require workers to make additional monthly contributions at a quantum to be finalized by the government. The 24-hour scheme would also cover Malaysians injured on overseas work trips.
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