NATIONAL SOCIAL PROTECTION FUND: THE MULTI-PILLAR EMPLOYEES’ PROVIDENT FUND

  • Mario Arturo Ruiz Estrada Social Security Research Centre (SSRC), Faculty of Economics and Administration, University of Malaya, Kuala Lumpur
  • Evangelos Koutronas, Evangelos Social Security Research Centre (SSRC), Faculty of Economics and Administration, University of Malaya, Kuala Lumpur
  • Donghyun Park Asian Development Bank (ADB), 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines 1550

Abstract

This paper formulates a comprehensive pension fund framework for enhancing system capacity to manage economic and social risks. The National Social Protection Fund (NSPF) attempts to quantify the informal sector, incorporated under a unified national protection scheme. The new protection mechanism consists of two sub-funds: The National Integral Social Security Fund (NISSF) and the National Education Fund (NEF). NISSF encompasses all economically active Malaysian population, including the informal workforce, whereas the NEF captures the economically inactive young population. Simulation findings indicate that education, health and income redistribution can improve the livelihood of the vulnerable population groups in Malaysia.


Keywords: Malaysia, EPF, Social Security, Social Protection, and Policy Modelling, JEL: Y20.

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Published
2019-12-23
How to Cite
RUIZ ESTRADA, Mario Arturo; KOUTRONAS, Evangelos; PARK, Donghyun. NATIONAL SOCIAL PROTECTION FUND: THE MULTI-PILLAR EMPLOYEES’ PROVIDENT FUND. Platform : A Journal of Management and Humanities, [S.l.], v. 2, n. 1, p. 1-12, dec. 2019. ISSN 2637-0859. Available at: <http://myjms.moe.gov.my/index.php/pjmh/article/view/5918>. Date accessed: 13 july 2020.