KUALA LUMPUR, Nov. 16 -- You see it every month on your payslip: a small deduction labelled Socso, amounting to just a few ringgit.

For some, they know that it is another statutory deduction made alongside their Employees Provident Fund (EPF) contributions and income tax.

But not many know exactly what that money pays for.

Unlike EPF, which primarily helps Malaysians build retirement savings, the Social Security Organisation (Socso) or Perkeso (Pertubuhan Keselamatan Sosial) as it is sometimes referred to, provides protection against employment-related accidents, occupational diseases, permanent disability and certain other circumstances, depending on the scheme and eligibility requirements.

With Budget 2027 introducing new incentives...