Abstract
This dissertation proposes the optimisation of the contribution rate for Social Security Organisation (SOCSO)’s Invalidity Pension Scheme (IPS). In performing this study, four objectives were set. Firstly, this study aims to statistically analyse the current situation of the contribution fund collection and the claim benefits payment under SOCSO’s IPS. Secondly, it seeks to develop an actuarial formulation based on the benefits coverage from SOCSO’s IPS. Thirdly, it attempts to determine an optimal contribution rate to support the benefits provided under SOCSO’s IPS using an actuarial approach. Fourthly, it proposes an appropriate contribution rate to be implemented by SOCSO. Currently, the contribution rate for SOCSO’s IPS is 1%, which is shared equally between employer and employee. This contribution rate is directly deducted from the employee’s monthly gross salary. This contribution rate needs to be adjusted upwards by SOCSO in the near future to ensure that all payments of claims are sufficiently covered.
Metadata
Item Type: | Book Section |
---|---|
Creators: | Creators Email / ID Num. Awang Chek, Mohd Zaki UNSPECIFIED |
Subjects: | L Education > LB Theory and practice of education > Higher Education > Dissertations, Academic. Preparation of theses > Malaysia |
Divisions: | Universiti Teknologi MARA, Shah Alam > Institut Pengajian Siswazah (IPSis) : Institute of Graduate Studies (IGS) |
Series Name: | IGS Biannual Publication |
Volume: | 12 |
Number: | 12 |
Keywords: | Abstract; Abstract of thesis; Newsletter; Research information; Doctoral graduates; IPSis; IGS; UiTM |
Date: | 2017 |
URI: | https://ir.uitm.edu.my/id/eprint/19893 |
Download
ABS_MOHD ZAKI AWANG CHEK TDRA VOL 12 IGS 17.pdf
Download (706kB) | Preview