Cuepacs Proposes Flexible Retirement Payout Options Under New Remuneration System

Cuepacs proposes flexible retirement payout options under new remuneration system

KUALA LUMPUR: The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) has proposed that permanent appointees under the new Public Service Remuneration System (SSPA) be given monthly basis or lump sum options for their retirement payments, subject to conditions and eligibility. Read full story

The hypothesis of giving greater prerogatives to trade unions and employers was discussed at the 11th meeting of negotiations on pensions, and some centrals fear the establishment of a universal system.

Cuepacs proposes flexible retirement payout options under new SSPA

KUALA LUMPUR, May 16 — The Congress of Unions of Employees in the Public and Civil Services (Cuepacs) has proposed that permanent appointees under the new Public Service Remuneration System (SSPA) be given monthly basis or lump sum options for their retirement payments, subject to conditions and eligibility. Its president Datuk Adnan Mat said this was one of three proposals submitted by Cuepacs in response to the Public Service Department’s plan…

Cuepacs proposes hybrid system for withdrawal of retirement savings

Among others, Cuepacs moots a hybrid system where a chunk of pensions can be withdrawn upfront and the remainder is paid monthly.

Pensioners and annuitants will be able to earn more on top of their benefits. There is also an ongoing discussion about the need for more effective professional activation of seniors, so that they can continue their employment or business as long as possible.

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