Source: The Star Online
KUALA LUMPUR: For the first time in Malaysian legal history, a woman whose marriage was not registered under civil law has been recognised as the surviving widow by the court and deemed entitled to Socso pension.
High Court judge Justice Su Geok Yiam ruled that odd-job worker Lam Kun Tai, 51, is entitled to the Social Security Organisation’s survivors pension.
She ruled that Lam fell under the category of “dependant” as the widow of her late common law husband Leow Teng Song. Leow was a supervisor who passed away on Nov 16, 2015.
Yesterday, Justice Su dismissed an appeal by the director-general of Socso who appealed against the decision of the Employees’ Social Security Appellate Board’s chairman which decided that Lam was entitled to the pension. Read more
Source: The Malay Mail Online
BY SALEH MOHAMMED
SEPT 8 — Bankrupt Pension Systems: Crisis in Modern Society, that was the title of an article written by Tom Pu-chih Hsieh, the executive editor of The China Postlast week.
According to a recent study by Allianz, pension systems in most Asian countries are “fragile and unstable”. Also, there is a gap of US$78 trillion (RM318.5 trillion) in pension funds among the 20 richest countries in the world.
In Taiwan, the pension issue is severe. Taiwan is the most populous non-United Nation state and the largest economy outside the UN. Civil servants are protesting government’s plan to cut their benefits, while a smear campaign accuses them of causing the pension system’s woes in the first place. But over there, the average monthly pension for civil servants is at least three to four times higher than that of those in the private sector.
It is estimated that Taiwan’s pension system for civil servants will be depleted in about 10 years if no drastic changes are made. The government is preparing to alter its Income Replacement Ratio, which is currently the highest in the world. Read more