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10 May, 2001Prime minister agrees to act on MTUC grievances involving the Employees Provident Fund.
MALAYSIA: The Sun newspaper reports that the May 12 nationwide picket, which was being organised by the Malaysian Trades Union Congress in protest against investment policies of the Employees Provident Fund, has been postponed for three months. The MTUC decided to put off the picket until August 9 when the Malaysian prime minister agreed to act on the following grievances involving the EPF:
- the annuity scheme to be deferred pending a consultant study;
- the restoration of the death and incapacitation benefits to be considered;
- the money in the pension fund to be properly managed.
The MTUC is also demanding the EPF Act be amended so that its members fill at least half the seats on the EPF board. At present, the MTUC has only five representatives on the board, while employers have 18.
- the annuity scheme to be deferred pending a consultant study;
- the restoration of the death and incapacitation benefits to be considered;
- the money in the pension fund to be properly managed.
The MTUC is also demanding the EPF Act be amended so that its members fill at least half the seats on the EPF board. At present, the MTUC has only five representatives on the board, while employers have 18.