Retrenchment Benefits Calculator (SIP Prihatin)

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Malaysia Retrenchment Benefits Calculator

SIP Prihatin(Sistem Insurans Pekerjaan)

Suppose you’re like most heads of Human Resources departments (HR) or employees in the country today. The concept of retrenchment benefits in Malaysia and what comes immediately after employment termination and lay-off mightn’t be evident to you. As a strong brand built on the drive to add value to people’s lives in the country, we’ve extensively analyzed the Employment Act of 1955 and the Benefits Regulations of 1980. Backed by our in-depth knowledge of these areas and an understanding of the code of conduct in most countries’ workplaces, we’ve created a simple and effective way for you to calculate retrenchment benefits in Malaysia.

Note: This calculation only applicable to Loss of Employment (LOE*) starting from 1st January 2021 until 30th June 2022. For LOE happened before 1st January 2021, click HERE to calculate the benefit. Benefits are calculated based on your previous assumed salary and your Contributions Qualifying Conditions (CQC) i.e. the number of monthly contributions you have paid before.

Benefit Calculator (SIP PRIHATIN)

Loss of Employment (LOE) Date **

Only applicable for the LOE occurred between 1 July 2020 until 31 December 2021

Wage

(Enter an amount)

Monthly Contribution

(Paid monthly)

Assumed Wage

Average Assumed Wage

(Average of 6 months' wages before LOE date)

No. of Training Day(s)

(If relevant)

Training Allowance (25%)


Eligible
  • Normal retrenchment and redundancy
  • VSS/MSS (Voluntary/Mutual Separation Scheme)
  • Closure of the company due to natural disasters
  • Bankruptcy or closure of the company
  • Constructive dismissal
  • Downsizing
  • Resignation (sexual harrasment/threats) / Ordered to perform dangerous duties that are not within the job scope
Not Eligible
  • Employee misconduct
  • Voluntary resignation
  • Retirement
  • Expiry of fixed-term contract/project completion
Reminder
  • The benefits calculator utilizes a generic formula based on the mean average wage and benefit payment rates.

  • The average assumed wage is calculated by averaging 6 months' wages before the LOE date.

  • The total amount payable depends on the type of benefit one is eligible to receive, example: JSA No 1.

  • The total amount payable depends on the monthly contribution amount, the number of monthly contributions, and the type of benefits one is eligible for.

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