KUALA LUMPUR: Over 300,000 Social Security Organisation (Socso) beneficiaries will receive an increase of up to 10 percent in payouts to help alleviate the rising cost of living. Payment of arrears will be made from Dec 26 to former contributors who are getting payments from pension schemes under Socso or schemes for their dependents, from before 2015. The increase includes those who receive payments from the dependents’ benefit, permanent disablement benefit, invalidity pension and survivors’ pension schemes. Under the new adjusted rates, a total of RM72.62 million has been allocated for the payment of arrears for this year. “Socso has already spent RM2.9 billion allocated for pensions in 2016 and, more than RM3 billion this year,” he said.

Source: New Strait Times November 08, 2017 13:30 UTC