KUCHING: New hires under the Sarawak civil service will enjoy more benefits from the new Contribution-Based Posts (JBC) system adopted by the state government.
Chief political secretary to the Premier Fazzrudin Abdul Rahman said this move is expected to yield increased returns for contributors, compared to the existing pension scheme.
“These two schemes, the pension and the Employees’ Provident Fund (EPF), each have their own advantages depending on the performance of the EPF’s investments.
“I welcome the Sarawak government’s proposal (for the JBC system) because the most important thing is the benefit towards the contributors,” he said after a walkabout at the Emart Matang Ramadan bazaar here today.
In the meantime, the Tupong assemblyman urged civil servants recruited under the JBC scheme to manage their finances wisely after retirement
“We need to manage our finances carefully. Although the EPF allows withdrawals after pension, it depends on the individual’s skills in managing their own finances and improving their financial security,” he said.
On Wednesday (Mar 13), State Secretary Datuk Amar Mohamad Abu Bakar Marzuki said all new hires for the state civil service will be recruited under the JBC scheme starting this year.
This means they will be contributing to the EPF retirement scheme and will not receive monthly pension from the government.
However, those recruited under JBC will continue to enjoy permanent positions as well as perks and benefits, similar to those under the traditional pension scheme, such as medical and housing benefits.
