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payout time of MSS and calculation formula

Sat, 24 Feb 2018 02:12:57 PM  (Last updated: Sat, 24 Feb 2018 03:33:37 PM)

1) My company offered MSS in January 2018 and I was accepted as my position was redundant. My last day of work was on 15th February 2018. According to my HRD, we have to submit CP22A form to LHDN before the payout of the MSS. To date (today is 24/02/2018) I have not received the CP22A form from my HRD. .In the T & C of the MSS, it stated that payment will be made 14 working days after receiving the clearance from LHDN. If HRD were to sent the CP22A form ASAP, I can submit it to LHDN to expedite the payout of MSS. Previous ex-colleagues who opted for MSS informed that they only received their money after 3 months. I would like to know is it OK to delay in the payout of the MSS by delaying in sending us the CP22A form?

2) My company gave 3 calculations for MSS, based on the calculation below, whichever is lower

i) 1.25 x (BS x allowance) x years of service 

ii) (last drawn BS+allowance)x remaining months to retirement

III) maximum at 24 months x (last drawn salary+allowance)

I fall into category (iii) which is (BS+allowance) x 24 months. which I feel that it's not fair as my years of service is 20 years and 4 months. Please advice if it's possible to fight back for more payout?

KL Siew
Sat, 24 Feb 2018 03:33:37 PM

I think you should pay a visit to the Labour Department and discuss the issues with the officer there. However, you may get some info from the Employment(Termination and Layoff Benefits) Regulations about method of payment.