Foreigners opt out from Pension Scheme

Pension office has stated that some among those who had registered for the Foreigners Retirement Pension Scheme, had submitted requests to the office to have their names absconded.
The Office also stated the request submissions coincided with the amendments made to the Pension Guidelines.
Pension Office Director Ismail Shujau reported to Vnews that the Office had been receiving the requests in large numbers, following the amendment of the guidelines by the Parliament.
With the amendment, participation of foreign workers in the pension scheme was made as a voluntary matter, meaning that the control of participation on the scheme or not, is entirely up to them.
Shujau added that the foreign workers can participate if he or she wishes, but only under the condition that the decision is under an agreement of mutual understanding, between the worker and employer.
He also said that the President had also verified the amendment, and has officiated the Retirement Pension Scheme for Foreigners as a voluntary participation.
For that, the office has started applying to the changes, as they have decided not to take this months pension money from those who have participated in the scheme.
In Aprils intake on the participation of the scheme, 3854 foreigners had joined up within the registration window
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