On May 1, 2025, six major Malaysian government-linked investment companies (GLICs)—Khazanah Nasional Bhd, Permodalan Nasional Bhd, Employees Provident Fund, Kumpulan Wang Persaraan (Diperbadankan), Lembaga Tabung Angkatan Tentera, and Lembaga Tabung Haji—announced the implementation of a living wage policy. This ensures all their permanent Malaysian employees earn above the monthly living wage threshold.
Living wage policy
Finance Minister II Datuk Seri Amir Hamzah Azizan stated that this collective move, part of the Ministry of Finance’s GEAR-uP initiative, aims to promote inclusive growth by “raising the floor” for workers’ well-being while catalyzing economic growth in key sectors, aligning with the dual goals of “raising the ceiling” and “raising the floor.”
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