Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek

Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek

This dissertation proposes the optimisation of the contribution rate for Social Security Organisation (SOCSO)’s Invalidity Pension Scheme (IPS). In performing this study, four objectives were set. Firstly, this study aims to statistically analyse the current situation of the contribution fund collec...

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Bibliographic Details
Main Author: Awang Chek, Mohd Zaki
Format: Book Section
Language:English
Published: Institute of Graduate Studies, UiTM 2017
Subjects:
Malaysia
Online Access:http://ir.uitm.edu.my/id/eprint/19893/
http://ir.uitm.edu.my/id/eprint/19893/2/ABS_MOHD%20ZAKI%20AWANG%20CHEK%20TDRA%20VOL%2012%20IGS%2017.pdf
id uitm-19893
recordtype eprints
spelling uitm-198932018-06-08T02:34:19Z http://ir.uitm.edu.my/id/eprint/19893/ Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek Awang Chek, Mohd Zaki Malaysia This dissertation proposes the optimisation of the contribution rate for Social Security Organisation (SOCSO)’s Invalidity Pension Scheme (IPS). In performing this study, four objectives were set. Firstly, this study aims to statistically analyse the current situation of the contribution fund collection and the claim benefits payment under SOCSO’s IPS. Secondly, it seeks to develop an actuarial formulation based on the benefits coverage from SOCSO’s IPS. Thirdly, it attempts to determine an optimal contribution rate to support the benefits provided under SOCSO’s IPS using an actuarial approach. Fourthly, it proposes an appropriate contribution rate to be implemented by SOCSO. Currently, the contribution rate for SOCSO’s IPS is 1%, which is shared equally between employer and employee. This contribution rate is directly deducted from the employee’s monthly gross salary. This contribution rate needs to be adjusted upwards by SOCSO in the near future to ensure that all payments of claims are sufficiently covered. Institute of Graduate Studies, UiTM 2017 Book Section PeerReviewed text en http://ir.uitm.edu.my/id/eprint/19893/2/ABS_MOHD%20ZAKI%20AWANG%20CHEK%20TDRA%20VOL%2012%20IGS%2017.pdf Awang Chek, Mohd Zaki (2017) Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek. In: The Doctoral Research Abstracts. IGS Biannual Publication, 12 (12). Institute of Graduate Studies, UiTM, Shah Alam.
repository_type Digital Repository
institution_category Local University
institution Universiti Teknologi MARA
building UiTM Institutional Repository
collection Online Access
language English
topic Malaysia
spellingShingle Malaysia
Awang Chek, Mohd Zaki
Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
description This dissertation proposes the optimisation of the contribution rate for Social Security Organisation (SOCSO)’s Invalidity Pension Scheme (IPS). In performing this study, four objectives were set. Firstly, this study aims to statistically analyse the current situation of the contribution fund collection and the claim benefits payment under SOCSO’s IPS. Secondly, it seeks to develop an actuarial formulation based on the benefits coverage from SOCSO’s IPS. Thirdly, it attempts to determine an optimal contribution rate to support the benefits provided under SOCSO’s IPS using an actuarial approach. Fourthly, it proposes an appropriate contribution rate to be implemented by SOCSO. Currently, the contribution rate for SOCSO’s IPS is 1%, which is shared equally between employer and employee. This contribution rate is directly deducted from the employee’s monthly gross salary. This contribution rate needs to be adjusted upwards by SOCSO in the near future to ensure that all payments of claims are sufficiently covered.
format Book Section
author Awang Chek, Mohd Zaki
author_facet Awang Chek, Mohd Zaki
author_sort Awang Chek, Mohd Zaki
title Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
title_short Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
title_full Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
title_fullStr Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
title_full_unstemmed Optimizing contribution rate of socso’s invalidity pension scheme (IPS): an actuarial present value (APV) modelling / Mohd Zaki Awang Chek
title_sort optimizing contribution rate of socso’s invalidity pension scheme (ips): an actuarial present value (apv) modelling / mohd zaki awang chek
publisher Institute of Graduate Studies, UiTM
publishDate 2017
url http://ir.uitm.edu.my/id/eprint/19893/
http://ir.uitm.edu.my/id/eprint/19893/2/ABS_MOHD%20ZAKI%20AWANG%20CHEK%20TDRA%20VOL%2012%20IGS%2017.pdf
first_indexed 2023-09-18T23:03:31Z
last_indexed 2023-09-18T23:03:31Z
_version_ 1777418330409271296

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