Gov't revives MySPC, aims to provide better social security

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Putrajaya will reactivate the Social Protection Council (MySPC) which will formulate social security policies, said Economic Affairs Minister Mustapa Mohamed. Mustapa (above) said such policies were needed to address, among others, informal workers who do not contribute to the Employees Provident Fund (EPF) or Social Security Organisation (Socso) and the elderly who do not have enough savings upon retirement. In a statement today, he said this was decided by the Economic Affairs Council (EAC) which was chaired by Prime Minister Muhyiddin Yassin. "The EAC today resolved that MySPC will cover four strategic thrusts - social aid, social insurance, labour market intervention and data and administration. "The goal is to improve social protection at every layer of society...to ensure that no one is left behind," said Mustapa. MySPC was established in 2016 with similar obje…