Budget 2022: RM80 Million Allocated For Housewives & Single Mothers Through KWSP and PERKESO

The Minister of Finance, Tengku Zafrul Bin Tengku Abdul Aziz has revealed his plans for the Budget 2022 in Parliament today.

The government has allocated an amount of RM80 million under the program Kasih Suri Keluarga Malaysia to benefit housewives and single mothers through KWSP and PERKESO.

In the meantime, the minimum pension rate will also be increased to RM550 from RM475 which will assist 56,000 households. KWSP contributors who work for themselves in the gig sectors will also be exempted from the tax up until RM4,000.

In order to encourage workers from private sectors to contribute to KWSP, tax exemption will be expanded from RM250 until RM350.

Stay tuned for more updates!