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Foreign workers' EPF contribution a game changer to retain workforce and hire more local talent

The Star LogoThe Star3h ago

Foreign workers' EPF contribution a game changer to retain workforce and hire more local talent - The Star

Quick Summary:

KUALA LUMPUR: Foreign workers' mandatory Employees Provident Fund (EPF) contribution will benefit Malaysia's economy over the long term as employers will favour hiring more local talent as costs increase.

"While the contribution is a positive step, other incentives and workplace improvements would still be necessary to drive significant productivity gains," said Loo whose company Sorento offers bathroom and kitchen solutions in Malaysia and Italian-designed sanitarywares for home and commercial use.

Analysts said Malaysia’s approach was in line with several countries that have mandatory pension and compulsory savings schemes to support foreign workers' retirement savings such as Canada, Japan, Singapore and Hong Kong.

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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-19 @ 16:49:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 531 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 27169327

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 41 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 42 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

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The story "Foreign workers' EPF contribution a game changer to retain workforce and hire more local talent" was covered 3 hours ago by The Star, a news publisher based in Malaysia.

How trustworthy is 'The Star' news outlet?

The Star is a fully independent (privately-owned) news outlet established in 1971 that covers mostly economy and business news.

The outlet is headquartered in Malaysia and publishes an average of 41 news stories per day.

It's most recent story was published 42 minutes ago.

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  • News ID: #27169327
  • URL: https://beamstart.com/news/foreign-workers-epf-contribution-a-17423746107834

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