Is there any retrenchment insurance in Malaysia?

Yes, workers in Malaysia are protected by the Employee Insurance Scheme (EIS) by SOCSO (also known as PERKESO).

It was first implemented in January 2018 in Malaysia as social safety insurance to protect employees, mainly to safeguard employee retrenchment from the private sector.

EIS provide insured employees with financial assistance for up to 6 months until they find new employment.

 

Learn more about the EIS insurance scheme.