National Social Protection Fund: The Multi-Pillar Pension Fund

SSRC Working Paper Series No. 2018-1

26 Pages Posted: 13 Nov 2017 Last revised: 23 Jan 2018

See all articles by Mario Arturo Ruiz Estrada

Mario Arturo Ruiz Estrada

University of Malaya (UM) - Faculty of Economics & Administration (FEA)

Evangelos Koutronas

Universiti Sains Malaysia

Donghyun Park

Asian Development Bank - Economic Research

Norma Mansor

University of Malaya

Multiple version iconThere are 2 versions of this paper

Date Written: January 23, 2018

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 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

Ruiz Estrada, Mario Arturo and Koutronas, Evangelos and Park, Donghyun and Mansor, Norma, National Social Protection Fund: The Multi-Pillar Pension Fund (January 23, 2018). SSRC Working Paper Series No. 2018-1. Available at SSRN: https://ssrn.com/abstract=3061660

Mario Arturo Ruiz Estrada (Contact Author)

University of Malaya (UM) - Faculty of Economics & Administration (FEA) ( email )

Kuala Lumpur, 50603
Malaysia
+60126850293 (Phone)

HOME PAGE: http://ssrc.um.edu.my/

Evangelos Koutronas

Universiti Sains Malaysia ( email )

Minden, Penang
Malaysia

Donghyun Park

Asian Development Bank - Economic Research ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

Norma Mansor

University of Malaya ( email )

Faculty of Economics and Administration Building
Kuala Lumpur, 50603
Malaysia

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