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What is the different of SOCSO and KWSP?

1 Answer

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  • jimmy
    Lv 7
    1 decade ago
    Favorite Answer

    Very briefly [ more details do not help],

    SCOSO : concerned with welfare of employees [social security], i.e. financial assistance in times of difficulties caused by accidents [especially at work.]. It is sometimes seen as a personal accident insurance...

    KWSP : a pension like fund for the "providence" of employees and their families when they retire at a certain age. It is sometimes seen as a providence insurance, where at retirement, you received back the "cash value" of the policy plus a bonus, etc.

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