Forex Traders With Day Jobs: The PERKESO Deadline You Cannot Ignore

Many Malaysian forex traders are not full time professionals. Instead, they analyse charts after work, place trades during the evening and build their portfolios while holding down a regular job.

If that sounds familiar, there is an important PERKESO deadline you need to know about.

Employees have until 31 August to decide whether to remain in the Social Security Organisation (PERKESO)s Non Employment Injury Scheme, also known as Lindung 24 Jam, or opt out of the programme.

The decision could affect the level of social security protection available to workers, particularly those who spend their personal time outside working hours managing side businesses, trading activities or other commitments.

Employees who choose to opt out must submit a liability waiver declaration through the Lindung Faedah portal before the deadline. Those who remain in the scheme will continue contributing 0.75 percent of their monthly salary, subject to a maximum contribution of RM45.

The government announced the opt out option on 8 July after Prime Minister Datuk Seri Anwar Ibrahim acknowledged public feedback regarding concerns over making participation compulsory.

The policy change means employees now have the choice to decide whether the additional protection provided by Lindung 24 Jam matches their personal needs.

What Does Lindung 24 Jam Cover?

Unlike traditional workplace injury protection, which mainly covers accidents linked to employment, Lindung 24 Jam extends coverage beyond the workplace.

The scheme provides protection around the clock throughout an employees period of employment, including accidents that occur outside working hours and are unrelated to official job duties.

For workers who spend significant time outside the office, whether managing investments, trading forex after work or running side businesses, the additional coverage provides a broader safety net against unexpected incidents.

Participants who remain enrolled are entitled to various benefits, including medical assistance, temporary disability benefits, permanent disability benefits, dependants benefits, funeral benefits, physical and vocational rehabilitation support, constant attendance allowances and education benefits.

PERKESO Defends the Scheme‘s Value

Despite making participation voluntary, PERKESO continues to encourage employees to remain covered, describing Lindung 24 Jam as one of Malaysia’s most affordable social security protection programmes.

PERKESO Group Chief Executive Officer Datuk Seri Dr Mohammed Azman Aziz Mohammed said the contribution rate was benchmarked against social security systems used by members of the International Social Security Association, which represents institutions from nearly 164 countries.

He also highlighted concerns that a lower participation rate could affect the long term sustainability of the programme, including its ability to provide future benefits.

As a result, PERKESO and the Ministry of Human Resources are expected to review the implementation of Lindung 24 Jam by the end of the year.

Rising Claims Highlight Protection Gap

Since the scheme was launched, PERKESO has recorded strong demand from employees seeking protection beyond workplace related incidents.

The organisation reported approving an average of 27 claims per day, with nearly RM2 million in benefits paid during the first month of operation.

PERKESO noted that these figures revealed a protection gap under the previous system.

In 2025, the organisation rejected an average of 13 claims daily because the accidents occurred outside working hours and did not fall under the existing Employment Injury Scheme.

With Lindung 24 Jam now covering these situations, employees who previously had limited protection may now have access to financial assistance following accidents that occur during their personal time.

A Decision Malaysian Workers Should Consider Carefully

For employees, the choice is ultimately between keeping an additional layer of protection or reducing monthly deductions.

The maximum contribution of RM45 may appear small, but the value of the coverage becomes more significant when considering unexpected accidents that could result in medical expenses, income disruption or long term disability.

For Malaysians who trade forex as a side activity, this decision is particularly relevant. While trading may provide an additional source of income, maintaining financial stability also depends on protecting the ability to continue earning from a primary job.

With the 31 August deadline approaching, employees who intend to opt out should complete the required declaration before the cut off date.

Those who remain in the scheme will continue receiving 24 hour social security protection designed to provide financial support when accidents happen, whether during working hours or outside them.