June Newsletter
HR NEWSLETTER JUNE 2020
Private Retirement Scheme Contributors can now withdraw a maximum of RM 1,500.00 tax free from the Account B as Covid Relief fund
On 26 March 2020, Malaysia’s Prime Minister announced Private Retirement Scheme (PRS) pre-retirement withdrawals when unveiling the Prihatin Rakyat Economic Stimulus Package.
With this announcement, members below age 55 are able to withdrawal their PRS Sub-account B for amounts up to RM1,500 per PRS Provider.
*Terms & Conditions:
• Period for 8% Tax Penalty Exemption for PRS Sub-Account B Pre-Retirement Withdrawal is from 30 April 2020 until 31 December 2020.
• Eligible for members below 55 years old. No limitation for members above 55 years old to withdraw their PRS investment.
• Members can withdraw their PRS sub-account B up to RM1,500 per PRS Provider.
• Only ONE pre-retirement withdrawal is allowed per PRS Provider.
• This withdrawal is only applicable for members who have enrolled for one year or more; members enrolled for less than one year are not eligible for this withdrawal application.
5 STEPS FOR WORKPLACE SAFETY
For those states which are complying with the CMCO, the Alliance for Safe Community urges all industries and companies suggest to ensure all employees can return to work safely to prevent the emergence of new Covid-19 cases.
Priority should be to make all workplaces safe from Covid-19 transmission, as required by the World Health Organisation (WHO).
It is essential that all safety precautions are in place before work resumes. As the saying goes, "Discretion is the better part of valour". It is wise to be careful and avoid unnecessary risks.
Employers should adhere to the standard operating procedure (SOP) set by the Health Ministry and practise social distancing. Not all their staff should be back at the workplace. Company should adopt Rotation scheduled for staff to come back to work.
Safety and health committees at all workplaces which have been mandated under the Occupational Safety and Health Act (OSHA) must focus on Covid-19 prevention in addition to the core duty which is to ensure safety and health at the workplace. In the fight against Covid-19, these committees should look into the following:-
1. Ensuring all safety precautions are taken before restarting work.
2. Ensuring compliance with all SOPs at workplaces and update daily report to MITI notification website https://notification.miti.gov.my/login
3. Identifying solutions and design safety features as well as safe work procedures as part of the new normal.
4. Ensuring adequate Personal Protective Equipment for use by all workers for the prevention of Covid-19 and accidents.
Graphic -Credit of gov.sg
Employers and employees must fully understand the serious threat and danger of Covid-19 and take the initiative to keep themselves safe at all times.
The constant reminder from the Director General of Health, Datuk Dr Noor Hisham Abdullah, about the importance of community empowerment to combat this pandemic is crucial and must be taken seriously.
Employers should adhere to the SOP set by the Health Ministry to ensure workplace safety against the coronavirus.
-Together We Can Reduce the Risk of Coronavirus infection-
-Employee Safety is our Top Priority-