Understanding Strategic Enhancements for the Coverage, Efficiency, and Sustainability of the Social Security System in Malaysia

Mohd Zaki Awang Chek and Isma Liana Ismail
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Mohd Zaki Awang Chek: Actuarial Science Department, UiTM Perak Branch
Isma Liana Ismail: Statistics and Decision Science Department, UiTM Perak Branch

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 4, 1723-1730

Abstract: In this comprehensive analysis of Malaysia’s social security system, we delve into its evolution, operational challenges, and the pressing need for strategic reforms aimed at enhancing coverage, efficiency, and sustainability. The study identifies significant gaps in the system’s current framework, highlighting issues of limited coverage, sustainability concerns, and the adequacy of benefits amidst the nation’s socio-economic and demographic changes. By evaluating the system’s performance and drawing comparisons with global standards and emerging trends, we uncover the urgent necessity for policy reforms that can adapt to the dynamic socio-economic landscape of Malaysia. The article proposes targeted recommendations to address these gaps, emphasizing the enhancement of the system’s resilience, the expansion of inclusivity, and the assurance of long-term sustainability.

Date: 2024
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