Tough times for some high salary Malaysians………….

When we earn a higher salary, somehow our expenses may also automatically go up. That thought of. ‘Now I earn more, of course I deserve to pamper myself once in a while.’ Well, just remember that pampering ourselves once in a while would still amount to a huge number after a couple of years. While my friends continue to buy new smartphones, there are also many who complain of expensive food and then later blaming it on inflation. Well, no comments lah but for food, don’t we ever wonder why some people can still sell nasi lemak at RM1 and some at RM1.50 while the same pack of nasi lemak in upscale neighbourhood’s roadside would be RM2? Haha. Anyway, it’s a tough time for a few thousand Malaysians who are earning over RM10,000 per month. They needed the 1Malaysia People’s Aid (BR1M) scheme. They applied for it and one was even earning RM12,000 per month. This was revealed by the Second Finance Minister. Full article in TheStar here.

As for who would qualify, the lead family member shall receive RM 1,200 for family with household income below RM 3,000. Family with household income between RM 3,000 and RM 4,000 shall receive RM 900 aid. A RM 450 aid will be given to single individuals that are over 21 years old. In brief, anyone earning higher than the above does not qualify. On a yearly basis, at least 300,000 people who earn more than RM5,000 apply for BR1M. 260,000 applicants earn RM5,000 monthly while about 40,000 applicants earn between RM6,000 and RM8,000 a month. Total rejected applicants number almost 600,000. Total recipients for BR1M 2017 is 3,242,048 households earning RM3,000 and less a month, while RM900 is being given to 291,918 households earning between RM3,001 and RM4,000 a month, and RM450 is being given to 2,786,803 individuals earning below RM2,000 a month. Checks are done by the finance ministry, the Inland Revenue Board (IRB) and the Employers Provident Fund (EPF). First the National Registration Department checks if they are Malaysian, then the EPF checks their payslips; and this would be followed by the (National Audit Department) verifying their earnings.

For individuals attached to the private sector, a check would be done with IRB and Retirement Fund Inc (KWAP) will look into pensioners. Payments started in 18 February. So, do check your accounts if you are one of the approved recipients. My wish? I hope the economy gets even better this year and minimum income level is raised perhaps next year? At least for Klang Valley.

written on 9 Mar 2017

Next suggested article:   Buying homes for the first time? Government schemes?

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