Cuepacs plans EPF-style pension fund
The Star, 7 Jul 2007
Cuepacs plans to set up a pension fund similar to the Employees Provident Fund or a special insurance scheme to enable civil servants to save for the future.
The union’s secretary-general Ahmad Shah Mohd Zin said the scheme would be extended to family members and would include medical treatment benefits.
“We have conducted a study and found that civil servants want a guarantee that their savings are strong enough to carry them through their old age, including having money for the best medical treatment.
“About 90% of civil servants are bumiputras and most of them are not inclined to join insurance or funding schemes although it is for their own good,” he told reporters after giving out compensation cheques to members under the Cuepacs’ Syariah scheme underwritten by Takaful Ikhlas Sdn Bhd.