National Social Protection Fund: The Multi-Pillar Employees’ Provident Fund
Posted: 8 Sep 2017 Last revised: 8 Nov 2017
Date Written: September 6, 2017
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 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 Classification: Y20
Suggested Citation: Suggested Citation