MCA says no to private pension, jobless benefits plans

KUALA LUMPUR (June 19, 2012): The MCA has objected to the proposed private sector pension and unemployment insurance schemes recently mooted by the Human Resources Ministry.
Party president Datuk Seri Dr Chua Soi Lek said this is because the ministry is still dealing with the recently passed Minimum Wage Bill and the Minimum Retirement Age Bill.
"We need to monitor the impact of these two bills, and they must run their course before the ministry takes on anything else," he told a press conference after chairing the party's central committee meeting today.
Chua also said the Employee's Provident Fund (EPF) should maintain the fund withdrawal age at 55 years, and not raise it in tandem with the compulsory retirement age for the private sector.
The Minimum Retirement Age Bill raises the compulsory retirement age for the private sector to 60 years, but the move has caused concern among members that the withdrawal age will similarly be raised.
For many members, their EPF funds are the main source of income after retirement, and raising the withdrawal age may have a negative financial impact on those who choose early retirement.
"The MCA ministers will bring the matter up to the cabinet, while I will bring it up in the next Economic Planning Unit meeting," said Chua.
He also announced that a new Chinese independent school will be set up in Kuantan, Pahang, and that an application has been submitted by the Chung Hwa Independent School in Kuala Lumpur.
"We have met the deputy prime minister (Tan Sri Muhyiddin Yassin) who is also education minister to resolve certain technical issues.
"He (Muhyiddin) has also appointed (Deputy Education Minister) Datuk Dr Wee Ka Siong as chair of a technical committee to fast-track the application for the school," he said.

http://www.thesundaily.my/news/411741