RM5.7bil in benefits paid by Socso in 2023

 

Socso’s financial performance in 2023 was the best since it was set up in 1971, says human resources minister Steven Sim.

JOHOR BAHRU: The Social Security Organisation (Socso) made up to RM5.73 billion in benefit payments to insured persons and their dependents last year, says human resources minister Steven Sim.

He said the agency made similar payments of RM5.1 billion in 2022 and that Socso’s overall financial performance in 2023 was the best since it was established in 1971.

“This success can be attributed to Socso’s financial performance last year, which recorded positive growth in all aspects,” he said here today.

Sim said a good financial performance and more dynamic fiscal space will enable Socso to facilitate the expansion of its services.

Socso also plans to explore new forms of protection, such as no-fault accident protection, while improving the quality of its management and services, to ensure more sustainable and universal protection. - FMT