(1) The Board may, when substantial changes in the general level of earnings resulting from substantial changes in the cost of living, examine the situation on the basis of an actuarial valuation made under section 56 and make recommendations to the Minister to adjust the Scheme in order to maintain the real value of certain cash benefit.
(2) The recommendations of the Board referred to in subsection (1) shall be accompanied by the actuarial report and shall take into account of Government social policy, and may include—
(a) proposals for a new rate of contributions;
(b) proposals for changes in the rates of certain cash benefit; and
(c) extension of types of benefits.
Malay text (authoritative)
Kewajipan Lembaga untuk mengkaji semula faedah
(1) Lembaga boleh, apabila perubahan substansial dalam tingkat umum pendapatan akibat daripada perubahan substansial dalam kos hidup, memeriksa keadaan itu berasaskan penilaian aktuari yang dibuat di bawah seksyen 56 dan membuat syor kepada Menteri bagi menyelaraskan Skim bagi mengekalkan nilai sebenar faedah wang tunai tertentu.
(2) Syor Lembaga yang disebut dalam subseksyen (1) hendaklah disertakan dengan laporan aktuari dan hendaklah mengambil kira dasar sosial Kerajaan, dan boleh termasuk―
(a) cadangan bagi kadar caruman baharu;
(b) cadangan bagi perubahan tentang kadar faedah wang tunai tertentu; dan
(c) peluasan jenis faedah.
Text as at 1 October 2021 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
