Thursday March 22, 2012
KUALA LUMPUR: The monthly allowances for Socso pension recipients have been raised between 1.3% and 3.7%, said Human Resources Minister Datuk Seri Dr S. Subramaniam.
Dr Subramaniam added that the minimum pension of RM250 under the Invalidity Pension Scheme had also been increased to RM475.
The quantum of the enhanced rates would be determined according to the year the recipients were awarded the pension, he said.
Some 270,595 people receiving benefits under the Employment Injury Insurance Scheme and the Invalidity Pension Scheme will be eligible for the enhanced pensions.
About 56,399 people will benefit from the adjustment to the minimum pension rates.
Those who were awarded Socso pensions before 2008 will receive a 3.3% raise, while recipients in 2008, 2009 and 2010 will receive raises of 3.7%, 3% and 1.3% respectively. The increment has been backdated to Jan 1, 2011.
“The increase from Jan 1, 2011, will be paid in arrears and they will receive the new pensions from April,” Dr Subramaniam said.
He said the increase in the minimum pension has taken effect from Jan 1 this year.