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Trends Data Analytics in Socso’s Survivors’ Pension Benefit Claims

Author

Listed:
  • M. Z. A. Chek

    (Actuarial Science Department, UiTM Perak Branch)

  • I. L. Ismail

    (Department of Statistics and Decision Science, UiTM Perak Branch)

  • M. S. Asrulsani

    (Actuarial Science Department, UiTM Perak Branch)

  • H. Hasim

    (School of Mathematical & Computer Sciences Heriot-Watt University, UK)

  • Z. H. Zulkifli

    (Actuarial Partners Consulting, Malaysia)

Abstract

This study presents a comprehensive descriptive analysis of the frequency of claims for SOCSO’s Survivors’ Pension Benefit spanning the years 1985 to 2024. The dataset comprises 40 years of recorded claims, highlighting a substantial growth trend from a mere 432 claims in 1985 to an overwhelming 383,101 claims in 2024. Key statistical measures including the mean (142,874.29), median (117,495.5), standard deviation (116,533.78), skewness (0.6076), and kurtosis (-0.7967) are analyzed to interpret the distribution of claims. The analysis reveals a positively skewed distribution, indicating a rapid increase in claims over time, particularly after the year 2000. The high standard deviation suggests significant variability, reinforcing the substantial fluctuation in claim frequencies. The findings underscore critical socio-economic and demographic shifts, including increased life expectancy, policy amendments, and evolving labor market dynamics that impact survivors’ pension claims. These insights hold key implications for policymakers and social security administrators in ensuring the long-term financial sustainability of the SOCSO Survivors’ Pension scheme. Future research should consider actuarial adjustments and demographic modeling to project future trends and enhance fund management strategies.

Suggested Citation

  • M. Z. A. Chek & I. L. Ismail & M. S. Asrulsani & H. Hasim & Z. H. Zulkifli, 2025. "Trends Data Analytics in Socso’s Survivors’ Pension Benefit Claims," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3), pages 863-870, March.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-3:p:863-870
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    References listed on IDEAS

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    1. Mohd Zaki Awang Chek & Isma Liana Ismail, 2024. "Understanding Strategic Enhancements for the Coverage, Efficiency, and Sustainability of the Social Security System in Malaysia," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(4), pages 1723-1730, April.
    2. Cremer, Helmuth & Lozachmeur, Jean-Marie & Pestieau, Pierre, 2004. "Social security, retirement age and optimal income taxation," Journal of Public Economics, Elsevier, vol. 88(11), pages 2259-2281, September.
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